There was a time when I would get upset just because another man looked at my wife, much less touch her. What I didn't realize at the time was that most women, including my wife, appreciate being looked at and thus, desired. Slowly I learned to backoff more and more and just let things unfold to see where they went. The result was that I got many years of exciting situations where she got to tease knowing that with a snap of the fingers, I could bring an end to it.
From what I read, you seemed somewhat conflicted about whether your wife was too drunk to make the best decisions. I've been in that same mindset before as I'm sure others here have as well. It's called protecting your wife and is completely normal. And as comfortable as I thought I was with it, there were times when that possessive side of me kicked in and I had to remind myself that she was having fun when she flashed or flirted around. And of course, her fun fueled my desire for her as well. I guess you could call it a vicious circle but one that mostly ended like your evening did with us ripping each other's clothes off at the first opportunity.
Of course, now you know that she was just acting more drunk than she actually was but I think she knew that if things had gone too far, you would have been right there. She knows you would protect her if things started to get out of control. With that in mind, let her play. Yeah, maybe the touchy feely moments with Chris pushed the envelope a little but she didn't seem to feel threatened by the situation. That's the main goal, right? Let her have a little fun and feel safe in doing it and you get to have your fun by watching it unfold and then reap the rewards of her built up passion later. Sounds like a win-win to me. I think you handled the overall situation well, my friend.
Congrats on getting a COO in place. I'm hoping that means more adventures with you and the missus are forthcoming.