You should design the tables in InDesign -- the tools are very effective, and the tables I have done came out great at press time (no shifting, etc).
To wrap the text, go to Window > Type & Tables > Text Wrap. This will bring up the palette with the functionality I think you are looking for. Click on the table in your design, then click the second icon in the palette. You can control the amount of buffering space around the object in the fields just below the icons. Make sure the table is all the way in front to ensure this works (click on the table, then Object > Arrange > Bring to Front)
Hope this helps.