First of all, I truely think that screen wrapping is one of the most underated and underused feature in the whole gaming industry. It's possible to do amazing things with it ! Think Bomberman ! Towerfall ! Heck, even Portal could be considered as some smart exemple of 3D "screenwrapping" ! So the fact that your interpretation of the theme was about that is really cool.
The game controls are really tight. The balance between "speed" and "control" is quite hard to find, but I think you nailed it perfectly ! The game itself is really simple, but efficient, and you added an AI for the opponent : that's an impressive feature for a 48h game jam.
I was a bit disappointed that the projectiles couldn't also wrap, but I can understand that creating a wall of bullets could be a bit too strong xD.
With a bit more features and levels, that could be a nice little multiplayer arena-shooter !