NOUN (2)

1. breathing with a husky or whistling sound;

2. (Briticism) a clever or amusing scheme or trick;
- Example: "a clever wheeze probably succeeded in neutralizing the German espionage threat"


VERB (1)

1. breathe with difficulty;

The Collaborative International Dictionary of English v.0.48:

Wheeze \Wheeze\, v. i. [imp. & p. p. Wheezed; p. pr. & vb. n.
   Wheezing.] [OE. whesen, AS. hw[=e]san (cf. Icel. hv[ae]sa
   to hiss, Sw. hv[aum]sa, Dan. hv[ae]se); akin to AS. hw[=o]sta
   a cough, D. hoest, G. husten, OHG. huosto, Icel. h[=o]sti,
   Lith. kosti to cough, Skr. k[=a]s. [root]43. Cf. Husky
   hoarse.]
   To breathe hard, and with an audible piping or whistling
   sound, as persons affected with asthma. "Wheezing lungs."
   --Shak.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Wheeze \Wheeze\, n.
   1. A piping or whistling sound caused by difficult
      respiration.
      [1913 Webster]

   2. (Phon.) An ordinary whisper exaggerated so as to produce
      the hoarse sound known as the "stage whisper." It is a
      forcible whisper with some admixture of tone.
      [1913 Webster]

WordNet (r) 3.0 (2006):

wheeze
    n 1: breathing with a husky or whistling sound
    2: (Briticism) a clever or amusing scheme or trick; "a clever
       wheeze probably succeeded in neutralizing the German
       espionage threat"
    v 1: breathe with difficulty