My Spouse (also of Indian origin, currently on F1) is due to finish her studies in May-Jun of this year. She will be looking for jobs to start on a H1B visa starting July. Does my application for NIW affect her application for H1 or her current status of F1 in any way whatsoever? Does she become part of the NIW application?
Your NIW petition will have no effect on your wife's H-1B visa application or her current visa F-1 status.
There are two steps to getting a green card: filing an I-140 to qualify yourself under certain immigration category (such as EB-2 NIW) and filing an I-485 to adjust your immigration status. You will be the only person filing an I-140 and after your I-140 has been approved and your priority date is current, both you and any dependents will need to file I-485s to adjust your immigration status in order to become permanent residents.