Your brother would have to wait for a visa to become available for him before he can apply to adjust status.
You might consider your parents also applying for him when they become US citizens.
You are welcome to use the link provided below.
Your parents are your immediate relatives under immigration definitions. Petitions for immediate relatives generally do not allow derivative beneficiaries (such as your brother). While immigration officials have great discretion in granting approvals, your brother likely will not be coming with your parents.
Your brother is not your immediate relative under immigration definition. For him to adjust status in the US through a petition filed by you, he would have to be in a valid immigration status. Petitions for siblings are now taking at least 12 years for most countries and nearly 20 years for some countries.
Once your parents receive legal permanent residency, they can file a petition for their son (your brother). Their petition may take a few years.
You can review the Visa Bulletin to see the approximate wait times for the various visa preferences. The Bulletin is free at http://travel.state.gov/visa/bulletin/bulletin_1360.html .
You can review your specific facts with your attorney to see what legal options there may be.
I will agree with my esteemed colleagues. I will add that by applying for your brother, you might jeopardize his chance of renewing his student visa. An F1 visa does not allow dual intent.
Founder and Managing Attorney of Shah Peerally Law Group PC
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Note: The above answer is provided for informational use only. One should not act or refrain to act solely based on the information provided. No attorney client relationship is created unless a retainer is signed by the attorney and the client.