Yes, Inderal and similar drugs (beta blockers) can worsen asthma, at least to the extent of causing acute worsening of breathing, for a few hours after the drug is taken. However, I know of no evidence that using this drug in this fashion has any effect on the long-term (months-years) course of asthma. I assume that you are taking the short-acting form of the drug and, in that instance, the symptoms you describe should subside in several hours. Another possibility would be to attempt to counter-act the untoward effects of Inderal by also taking a couple puffs of albuterol, but you would want to check this out with your doctor, before giving that a try.
I have had some experience with patients who opted to take Inderal for performance anxiety and got relief. I mention this because, in those instances, we found that a surprisingly small dose, of 5-10 mg of the drug, would provide the desired effect, and not cause any respiratory problems. You might want to discuss this with your doctor.
Good luck