Kevin - try dressing the wheel with a dressing stick, a diamond wheel dresser, or even a piece of another grinding wheel. You may be able to straighten out the 3/16" wheel that you have. I find on my bench grinder I have to dress the wheel(s) about once a month to keep them spinning smoothly. I have the diamond dresser that came with the grinder that works well. If you don't have one of the cheap chain/wheel guides get one as they can be helpful when you dress/shape your grinding wheel. I cannot vouch for the veracity of the video link below, but it does show dressing wheel less than a minute in.
Mark
Mark