game-editor.com

is it possible to make the install wizard come up when you put the disk in like on store bought games

Well right now, you'd have to make a custom one using 3rd party software.

Installers are separate applications. You run them on the game you have made and it prepares instructions for the users computer to set it up.

Use the Click Team install creator!
http://www.clickteam.com/eng/installcreator.php