This method seems to work for wiping:
http://forum.xda-developers.com/show....php?t=2291582
However, when I connect the phone to my laptop, I'm having an issue with Windows 7 recgonizing the device, I get a "MTP USB Device Failed" message when I connect the Nexus 4...any help on this issue on how to get the computer to recognize the device so I can drag and drop any files from the phone to my laptop?