I don't know that the designer itself has any extensibility points. However, once the Summary and LongDescription fields are populated in your edmx file, those value will remain there, even if you make other changes or re-updated your model from the database. Unless you delete a table and re-add it, those values will remain populated.
So you could either just copy and paste them all in one at a time (how many tables are in your model? This goes quicker than you think), or write a program to extract the info from your database (using SQL SMO or something), and have that program edit your edmx file, populating the Summary and LongDescription fields (make a backup of your edmx each time you try your program -- you don't want to botch your edmx file and have to start over).
If you have large models, and you're making lots of them, writing a program to do it automatically is worth your time. If you've only got a few models, with not too many tables, copy paste it is.
You might want to think about submitting feedback to the Entity Framework team here. Seems like the designer should automatically pick up on the description field from SQL Server. Would make a good feature request.