Hi, Marshall,

Yes, a laser pointer and the use of Snell's law can give
a calculation of refractive index. But the principle of the
optical lever would allow more precision. Admittedly, not
everybody has access to a theodolite or a transit. These
instruments, used as part of an optical lever setup, 
could provide both precision and accuracy. The latter
would come from the capability to "close" the "survey"
by turning the instrument to view the graduation with
and without the refracted path.
A method of comparable precision, though maybe not
quite as much accuracy, and much more feasible for
people of ordinary means, would be to use telescopic
gunsight instead of theodolite or transit.

Best regards,

Matthew