I wanted to think about this for a while but as soon as I started actually working on it I noticed something: Since the weight is concentrated at a single point, we can ignore the disk and think of the weight as attached to the center of the wheel by a rod: this is the classic "pendulum problem"!
Drawing a force diagram and, of course, using "F= ma", we get
m r d2θ/dt2= -mg sinθ where θ is 0 when the weight is directly below the center of the wheel and r is the distance from the center of the wheel to the weght.
This is a (very) non-linear equation so there is no general method of solution. If θ is small, we can approximate sinθ by θ and get r d2θ/dt2 = - g θ or d2θ/dt2+ g/rθ= 0.
That's a linear homogeneous equation with constant coefficients and its general solution is θ(t)= C1 cos([squ](g/r)θ)+ C2 sin([squ](g/r)θ). In particular, if we hold the wheel so that the weight makes initial angle Θ with the vertical and release it, θ(t)= Θcos([squ](g/r)θ). The weight moves through the vertical and to an equal height on the other side then repeats periodically.
More generally, we can use "quadrature". If we let ω= dθ/dt, we have d2θ/dt2= dω/dt and then, using the chain rule, dθ/dt dω/dθ= ω dω/dθ.
The equation becomes ωdω/dθ= -g/r sinθ so ωdω= (-g/r) sinθdθ and
(1/2)ω2= (g/r)cosθ+ C.
Theoretically, one could solve for ω= dθ/dt and then integrate that but it gives an "elliptic integral" which cannot be done in closed form. What we can do is draw the "phase plane diagram". For a number of different values of C, graph ω against θ. For some values of C you get "circular" graphs (periodic solutions- the wheel swings back and forth). For other values it's not: the wheel just keeps going around in the same direction.
edit: fixed θs and ωs