Mikhalsky was born in the city of Taganrog in North Caucausis region of Russia on 27 June 1938.
Vaclav's father was arrested during Stalin's purges, after that the rest of the family moved into Dagestan, and later into Kabardino-Balkaria and into Chechnya-Ingushetia autonomous regions of Russia in the North Caucasis.
In 1965 Vaclav graduated from Maxim Gorky Literature Institute in Moscow, Russia, and in 1975 from graduate-level movie-script writing courses at Goskino Academy.
Vaclav wrote numerous prose pieces and movie scripts.
In 1990 he founded magazine "Solgasie" (Concordance), and later became the Director General and the Chief Editor of the whole publishing house.