Just wanted to provide a quick update. I received the mic (link above) yesterday and installed it today. I have to say this little mic is amazingly sensitive and works extremely well. I installed it in a 1-gang outlet box and drilled a small hole in a blank face plate so the mic sticks out slightly into the room. That got mounted in the ceiling above the crib in my nursery along with my camera.
All set now with a wifi enabled baby monitor with pan, tilt, 3x optical zoom, IR, and excellent audio.