wheel (v.) Look up wheel at Dictionary.com
"to turn like a wheel," c. 1200, from wheel (n.); transitive sense attested from late 14c. Related: Wheeled; wheeling.
wheel (n.) Look up wheel at Dictionary.com
Old English hweol, hweogol "wheel," from Proto-Germanic *hwewlaz- (source also of Old Norse hvel, Old Swedish hiughl, Old Frisian hwel, Middle Dutch weel), from PIE *kw(e)-kwl-o- "wheel, circle," suffixed, reduplicated form of root *kwel- (1) forming words to do with turning, rolling, and wheels (see cycle (n.)).

Figurative sense is early 14c. Wheel of fortune attested from early 15c. Slang wheels "a car" is recorded from 1959. Wheeler-dealer is from 1954, a rhyming elaboration of dealer.