Many repairmen will include a price of a new wrap in the refinishing work....I say to be done fully correct the wrap needs to be taken off but I am sure it can be done without taking it off I just wouldn't try it.
I'm with Chris on this one. Yes, ti can be done but it isn't something I would want to do. I say that because every refinish I've seen where the wrap was salvaged is an obvious refinish. There are just limitations you cannot get around.
It takes me less time to install a new wrap, linen or leather, than it does working around a wrap.