Nope, Indesign won't allow you to distort text like this.
You should use Illustrator then place the graphic into your Indd document.
Yes, design it out of context, or you can screenshot your indesign work and paste it into illustrator as a reference. Wow such convenience
You can do that kind of effect in Illustrator using the Warp Effects found under the Effects Window or by using the Envelope Warps available under the Object Window Distort or reshape using envelopes in Illustrator . Then, as vinny38 said, bring the result into InDesign.
Edit how does one bring the result from illustrator to indesign?
"Edit how does one bring the result from illustrator to indesign?"
File Menu>Place and scroll to the file you need from Illustrator. Click on OK. Then click on the screen (note that the cursor changes to an icon of an image) and the graphic will appear. You can also select a graphic frame before you go to place and the incoming graphic will appear inside that frame. Save the Illustrator file as .ai. InDesign will recognize any transparency and/or effects that are in the Illustrator file.
Edit @Bill Silbert. That works , thanks again