Q: When Wraparound is on, can one choose to NOT jump a gap, but instead wrap around to the other side of the “peninsula” one is on?

A: If you’re on a section of only one tile, of course there’s no point in “wrapping around” to the other side of the tile you’re on. The other side is a single move away without needing to wrap around.

But, if you find yourself on a piece of the board which is two tiles or wider, and there’s a gap with a tile across the way, it seems reasonable that you should be able to choose whether to jump the gap, or wrap around to the other side of the tile grouping you’re on. So, yes, you can choose whether you want to jump the gap or not.