Rytov's approximation, or the method of smooth perturbations, is utilized to derive the temporal frequency spectra of the amplitude and phase fluctuations of multifrequency plane and spherical waves propagating in the interplanetary medium and solar corona. It is shown that multifrequency observations of interplanetary scintillations using either compact radio stars of spacecraft radio signals are desirable because the correlation of the multifrequency waves yields additional independent measurements of the solar wind and turbulence. Measurements of phase fluctuations are also desirable because, unlike amplitude fluctuations, they provide information on the full range of scale sizes for the electron-density fluctuations. It is also shown that a coherent dual-frequency radio system is particularly useful in making such measurements. In addition to providing a means for interpreting observations of multifrequency interplanetary scintillations, the present analysis is essential for estimating the effects of solar corona turbulence on the communications and navigation of a spacecraft whose line-of-sight path passes close to the sun.