In case anyone comes across this same issue.
What I did was to navigate to the Scripts folder in the virtual environment where I want it.
Then, I ran this command:
(virtualenvironment) C:\(path to environment where I want psycopg2)\Scripts>python easy_install.exe c:\psycop
g2-2.5.4.win-amd64-py3.4-pg9.3.5-release.exe