Wheeler has been out of action since Dec. 10 when he sustained a lower-body injury during a collision with teammate Nathan Beaulieu and Vancouver Canucks forward Vasili Podkolzin.
The 35-year-old Wheeler has one goal and 16 assists in 22 games this season.
Ehlers was injured this past Tuesday during a knee-on-knee collision with Dmitry Orlov of the Washington Capitals. Although no penalty was called on the play, Orlov received a two-game suspension following a hearing with the NHL's Department of Player Safety.
The 25-year-old Ehlers has 13 goals and 12 assists this season.
Winnipeg also re-assigned forward Kristian Reichel to the taxi squad.
The Jets (17-13-6) visit the Boston Bruins on Saturday afternoon. You can watch the game on Sportsnet or Sportsnet NOW starting at 3 p.m. ET / 2 p.m. CT.