The issues of infinite friction and an infinitely long runway are another couple of red herrings in this argument.
F=(m)(a), where F is the net thrust of the engines, and (m) is the mass of the plane. F is changing so minutely during takeoff that (a), for practical purposes is constant.
The take off speed of a 747 is about 180 MPH, and a big full 747 requies about 10,000 ft of runway. So start the treadmill and set it at an accelration rate higher than that of the 747. As soon as the pilot pushes the engines to full throttle, the 747 is going to start moving forward relative to the Earth at whatever (a) calculates to be. The planes wheels are going to start spinning and generating some friction, but the rotational speed of the wheels is not even going to get remotely close to infinite speed, because the plane is going to hit its lift off velocity after a couple of minutes, and it will lift off the ground.
Thus, the plane wheels are never going to spin up to these incredible speeds where you would be approaching infinite friction in the wheel bearing assembly.