When snowshoeing with my dog in wolf country, I always just carried a long gun on a strap around my back. We don't have access to handguns in Canada, and I'm not sure it would be your best bet if your main reason is to protect your dogs. I don't know about your wolves, but ours are pretty smart, if you wave a long gun at them, they will generally take off. Plus, if a wolf does attack your dog, you want to have something with some accuracy at 50 or more yards, because chances are the wolf isn't going to snatch your fido in handgun range, and with both animals in close quarters, you want to make sure you hit the right one. Any platform with a .223 would be a good wolf gun. I had a nice single shot in .223, it was really light, but I also used to carry an old Lee enfield .303 sometimes too. I think the gun I took the most though was an old ruger 10/22.
On the other hand, if you are carrying a handgun to defend yourself against wolves, that's a different story. In my opinion, it is just extra weight then.
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