Yes, you may also install Cheto via WiFi, but a cable connection is much faster and more reliable.
To enable WiFi install, open iTunes and enable WiFi sync for your device.
After that, you won't have to connect your device to the computer anymore, just make sure to stay connected in the same network.
Now you can select "Install (WiFi)" in Cheto.
Users with jailbroken iDevices can of course use Cydia to install Cheto wirelessly.