Welcome to the forum and to Switzerland.

It'll take a few weeks to get the permits issued. There's no probation period for permits, you should get a B permit straight away. Your wife's will initially be for residence only, but if she finds a job all she needs to do is take her contract to the migration office to have the work part added on.

And yes, once they have their permits they can come and go as they like. Just remember to take the permits as well as the passports with you.