Just add a third command following the same example:
p1 = subprocess.Popen(['convert', fileIn, 'bmp:-'], stdout=subprocess.PIPE)
p2 = subprocess.Popen(['mkbitmap', '-f', '2', '-s', '2', '-t', '0.48'],
stdin=p1.stdout, stdout=subprocess.PIPE)
p1.stdout.close()
p3 = subprocess.Popen(['potrace', '-t' , '5', '-s' , '-o', fileOut],
stdin=p2.stdout,stdout=subprocess.PIPE)
p2.stdout.close()
output = p3.communicate()[0]