An important class of cyber-physical systems relies on multiple agents that jointly perform a task by coordinating their actions over a wireless network. Examples include self-driving cars in intelligent transportation and production robots in smart manufacturing. However, the scalability of existing control-over-wireless solutions is limited as they cannot resolve overload situations in which the communication demand exceeds the available bandwidth. This article presents a novel co-design of distributed control and wireless communication that overcomes this limitation by dynamically allocating the available bandwidth to agents with the greatest need to communicate. Experiments on a real cyber-physical testbed with 20 agents, each consisting of a low-power wireless embedded device and a cart-pole system, demonstrate that our solution achieves significantly better control performance under overload than the state of the art. We further prove that our co-design guarantees closed-loop stability for physical systems with stochastic linear time-invariant dynamics.