It's probably not possible to have the image come onto the phone as a wallpaper, the image has to be on the phone in the first instance. However if the images were on the phone it is possible for the ring to trigger a change in wallpaper. I use hdim detect in one app to trigger tasker to change another app that can change live wallpapers or normal wallpaper.
The ring itself probably cannot store enough data for a wallpaper image.
However you could use the ring to take your self to a URL that could have that image on it, but for it to happen seamlessly on a random phone could be tricky.
I would think a particular phone that was set-up right would be the best option.