Take it out - let it warm - open it at least an hour before drinking
But remember - when people talk about wine at "room tempterature" they mean room temperature from a different age - closer to 60 degrees than the 70's that many people today favor. Even a red should be, by modern practice, slightly chilled.
Not if you plan to drink it soon. When people say that temperature change damages wine, they mean heavy changes over a long period. It certainly didn't hurt your merlot to be in the fridge once. Take it out, warm it to about 60F, and decant it.
also wine ferments quickly when open. at the bar i worked at if we opened a bottle of wine we threw it out 72 hours after it was open even if it was corked and still quite full