I followed Diego's steps to setup the test-specific eclipse project. Then I created an external tool configuration to launch the tests:
The "Functional Tests" run configuration changes the arguments to:
shell am instrument -w -e func true com.wilson.android.libary.test/android.test.InstrumentationTestRunnerNow each time I'm ready to run the tests I need to deploy the main project, the test project -- if they both changed. Now I can use one of the run configurations above to use "adb" to launch the tests.
Be sure to read the official documentation on running instrumentation tests, starting here.