when we started co-sleeping wih dd, she was wrapped, but that was because i would feed her in bed, and then cuddle her until she fell asleep, and quite often i would fall asleep and wake up a few hours later and she was still in bed with us.
Now though, she still sleeps with us and she normally wears her pjs, and snuggle in between us under our blanket. and normally this works pretty well!!!!
However, you can buy cosleeping beds from baby shops, like little bassinettes. this keeps them safe and you can wrap, use bubbas own blanket and so on!
hth

Justine