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Converting wall cavity to cold air return - wiring questions

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Okay, first off, I know this has been asked before, but from what I searched, I got more confused than anything else, so I will have to ask again.

In my basement, one of my rooms does not have a cold air return. My initial thought was to make a "duct" (I read the thread where the question of if it was a duct or something else . . . I'll just call it a duct) for the cold air return by using the space between the 2x4s that make up the wall.

However, because this is an existing wall, there are some electrical wires for the outlets running through the space I'm looking at. From what I've read, if the wires run perpendicular to the duct, which in this case it is, am I okay? Do I need to somehow re-run the wiring?

Secondly, this cavity is also in a spot that I'd like to run some speaker wire through, again, perpendicular. The speaker wire is "in-wall" speaker wire, rated CL2 (I don't know what that means - can someone clue me in?) Can I run the wire through?

I plan on using fire caulk to help seal the duct, would I need to put some caulk around the holes where the wires are running though?