Here is one way to do it, in outline.
Given vectors $a$ and $b$ with length $\sqrt{2}$ and $a \cdot b = -1$, they form an angle of $120^{\circ}$ as you said. Now place a vector $c_0$ of length $\sqrt{2}$ in the plane of $a$ and $b$, forming an angle of $120^{\circ}$ with each of them. Then $a$, $b$ and $c_0$ satisfy all the hypotheses.
Now let $c$ be any vector satisfying the hypotheses, except perhaps the one about its length being $\sqrt{2}$. Prove that $c - c_0$ is orthogonal to $a$ and $b$, and therefore to all vectors in the plane generated by $a$ and $b$, including $c_0$.
Since $c$ consists of two orthogonal components $c - c_0$ and $c_0$, you can apply the Pythagorean Theorem to conclude that if $c - c_0 \ne 0$, then $c$ is longer than $c_0$.
This proves that if $c$ is to satisfy all the hypotheses, it must in fact be $c_0$.