Actually, there is a way to dramatically increase AC without being able to afford armor with the Wild enchantment. It requires sacrificing a level of spellcasting to take a one level dip in Monk. You need to be LN, but my Druid 5 / Monk 1 has an AC of 25 while wild shaped into a Deinonychus, and his Touch AC is 20 (game is at a 25 point buy).
However, his physical stats are all 14's, so he isn't as good at melee as someone who focuses on wild shape at the expense of spell casting. In our game, specific magic items are often hard to come buy, so he has Craft Wondrous Item to make his own (this covers almost everything he's going to need).
So, a decent AC in wild shape is possible, but you need to make a few sacrifices to get there.
However, his physical stats are all 14's, so he isn't as good at melee as someone who focuses on wild shape at the expense of spell casting. In our game, specific magic items are often hard to come buy, so he has Craft Wondrous Item to make his own (this covers almost everything he's going to need).
So, a decent AC in wild shape is possible, but you need to make a few sacrifices to get there.