Don't animate transform as it will undo the matrix. Hint, a matrix does rotation using scale and skew, which explains the weird behavior.
TweenMax.to('#wheel', 1, {
rotation: rotateDeg
});
But I don't know if that is the correct behavior. You can rotate something more than 360 degrees... and it can be negative. You might want to look at the DirectionalRotationPlugin, which is baked into the CSSPlugin.
https://greensock.com/docs/Plugins/DirectionalRotationPlugin
This will rotate it the shortest distance.
TweenMax.to('#wheel', 1, {
rotation: rotateDeg + "_short"
});