There's no point in making any trade like this anytime soon.
First, as others have said, it's highly unlikely that anyone takes Wallace's deal on simply for a late first round pick like the Clippers have. Maybe when he has one years left, not when he has two.
Second, there's no reason for us to give up anything to clear his contract until we have some sort of plan in mind and a realistic chance to execute it. If we do end up trading him and picks, I think it'll be very much like what the Cavs just did. So if it happens, it'll be next summer with a specific free agent likely to come here if we clear the needed space.