I added step 2.5 and 5.5 below for you. Your plan will be fully executed in about 4.5 years.
1) Wife transfers Chase points from wife's account to husband's Chase account.
2) Wife cancels Chase Sapphire preferred credit card.
2.5) Wait 24 months because you can't get the bonus from the same card within 24 months.
3) Wife reapplies for Chase Sapphire Preferred Card and meets minimum spend to receive the sign up bonus again.
4) After 3 months, Husband transfers entire Chase account balance to wife's new Chase account.
5) Husband cancels Chase Sapphire preferred credit card.
5.5) Wait 24 months because you can't get the bonus from the same card within 24 months.
6) Husband reapplies for Chase Sapphire Preferred Card and meets minimum spend to receive the sign up bonus again.
7) Wife transfers Chase points from wife's account to husband's new Chase account.
8) Cancels wife's Chase Sapphire preferred credit card to avoid having two annual fees.