You may be able to achieve what you want, but you have a LOT to do before then. It will take at least a couple of years of daily training to reach that point, and you'd probably need professional training help and constant reinforcement for the dog. You and your wife will have to be significantly involved every day in that training so you both understand your dog's proclivities, weaknesses, etc. NO amount of off leash training is as secure for you as having your dog on a leash.
Based on what you describe that you want, you can get very close to that much sooner by having your dog well trained walking on-leash with your wife and her stroller. Having a dog off leash in a neighborhood requires constant vigilance and scanning your entire visual field for old people, dogs, cats, squirrels, kids, broken glass, disapproving neighbors, cars, surprise distractions, etc. Your wife does not need that distraction when she is out with your child in a stroller.
I walk Liesl every morning on leash through the crossing guards and school kids streaming into the elementary school, for socialization. I wouldn't dream of trying this off leash, as the parents would protest, it is illegal, it is dangerous for the dog and kids, etc. However, every evening around 10 I walk her off leash (but with an ecollar for emergency control of her) in the neighborhood when most of the distractions are gone and she can explore a bit while staying in my vicinity. If you are a "recreational" trainer, like me, you can definitely get to this stage of off-leash activity if you work at it.
Liesl, b. 1/1/11