We propose and demonstrate a technique to control the balance between the two amplitudes of a dual-wavelength laser based on a phase-controlled optical feedback. The feedback cavity length is adjusted to achieve a relative phase shift between the desired emission wavelengths, introducing a boost in gain for one wavelength while the other wavelength experiences additional losses. Tuning the optical feedback phase proves to be an effective way to control the gain & losses, and, thus, to select one or balance the amplitude of the two emission wavelengths. This concept can be easily adapted to any platform, wavelength range and wavelength separations providing that a sufficient carrier coupling and gain can be obtained for each mode. To demonstrate the feasibility and to evaluate the performance of this approach, we have implemented two dual-wavelength lasers with different spectral separations together with individual optical feedback loops onto a InP generic foundry platform emitting around 1550 nm. An electro-optical-phase-modulator is used to tune the feedback phase. With this single control parameter, we successfully achieved extinction ratios of up to 38.6 dB for a 10 nm wavelength separation and up to 49 dB for a 1 nm wavelength separation.