You can co-sleep without actually being in the same bed. You buy a baby bed that's called a co-sleeper. I think that you could also use a regular crib. One side slides down and the placement of the mattress is adjustable. I haven't seen this done but I think that you could lower or remove the side rail and then position the mattress at your bed's level. I suggest that you put something heavy on the floor against the legs so that the crib won't slide away from your bed.
I adopted and so never had a baby to practice with. My grandkids co-sleep with me still mostly because there is not another bed. They have co-slept with their mother in a king sized bed. They have also slept in cribs bundled in their car seat and cribs alone. Their mother did whatever worked at the time. I don't remember them having difficulty adjusting to sleeping in their own bed full time when they were toddlers.
I've never rolled on top of either grandchild even when they were just a few weeks old. Even when I'm in bed alone I sleep primarily on one side of the bed. My mattress is firm enough that my body doesn't make a deep dent that would encourage me to roll over or them to roll down next to me. I don't usually roll over while sleeping. I do change from one side to the other while seemingly staying in one place. I don't usually wake up when I change positions either. These are some things to consider when you're making a decision. If you have just a double sized bed, especially if the mattress is soft, and which leaves very little room in which to move I might not consider co-sleeping.
I've also held a baby in the crook of my arm while we both fell asleep. At some point I would move them away from me. Frequently I was unaware that I had done that.
I have rarely heard of a parent suffocating their baby. The couple of times I've read about it occured when the mother was overweight and also drunk or stoned. Neither happened in Multnomah County. As one mother said, most mothers are aware of their baby in an unconscious way.
I've found that there were times when I was a child and when my foster daughter was young that co-sleeping was the only way I got any sleep. Of course, foster parents are not to allow foster children to sleep with them. I understand the reason for the rule. Smothering is not part of the reason for the rule. I did frequently violate it. My philosophy is to do whatever works in the best interests of both the mother and the baby/child. When one's working sleeping is a priority.
Another thing I've done with my grandkids is to rock them in a recliner so that I was able to comfortably sleep. When I was a teen overnight babysitter of a baby who awakened during the night I'd bring the crib next to my bed and put my hand on the baby when he started to fuss. I barely woke up and some of the time the baby would go back to sleep.
Since you do hear your baby wake up I would guess that you would be very unlikely to roll over on her. Add to that awareness that you are concerned about rolling over on her I guess that that it's almost sure that you won't. There is always a fluke accident and none of the ones I've seen have involved co-sleeping.
If it were me, I'd try out co-sleeping. You could also try a combination of both in their own bassinette and with you.
In the case you cite you could bring her to be with you when she wakes up and then put her back in her bassinette after you nurse. That would give you a measure of more sleep.
I think that holding a baby as much as she needs is important for their emotinal development. I also think that being snugly bundled can give the illusion of being held. Being bundles and in a car seat adds to that sense. Another reason for using the car seat is that it's possible she is waking up because of respiratory congestion. The car seat raised the head so that mucous drains more easily.