Unscrew the battery cap, press one pin of your multimeter on the battery and the other on the body with the multimeter sent to the amp [or current] setting. If your analog meter gets pinned off the chart or your DMM gets an error, reverse your pin orientations. Read and record the amount of current consumed by the laser while it is in operation. Then divide the battery's total capacity [in milliamps will work as long as your comparison figure: your reading is also in milliamps, otherwise use amps] into your reading and the product yield would be your runtime in hours [which you could then x60 to derive the runtime in minutes]
for example: if my laser draws 530ma from the batteries, and the battery's capacity is 700 mah, then my runtime would be 700/530 = 1.32 hours, which equates to 1h + [0.32x60]m or 1 hour 24 minutes
I don't believe the laser's power has a direct relationship with battery life since theres a middle man called the "driver circuit." I could be wrong though :-/