Make the sauce first: In a small saucepan over medium-low heat, combine hot sauce, vinegar, garlic powder, Worcestershire, and honey. Warm until steaming, then turn the heat to low. Whisk in the cold butter a few cubes at a time until the sauce looks glossy and emulsified. Keep warm on the lowest heat or transfer to a warmed jar and set in hot water.
Season the wings: Pat wings very dry. In a large bowl, mix salt, pepper, smoked paprika, garlic powder, onion powder, and baking powder. Toss wings in the mixture to coat evenly. Arrange on a wire rack set over a sheet pan and let sit 15–20 minutes at room temperature to let the seasoning cling.
Heat the grill/smoker for two-zone cooking: Set up for indirect heat at 300–325°F. If you like extra smoke, add a small chunk of fruitwood to the coals. Close the lid and stabilize the temperature.
Smoke the wings: Place wings skin side up on the cool side of the grill. Cover and cook 35–45 minutes, flipping once, until the skin looks dry and the internal temperature is around 165–170°F.
Crisp over high heat: Open vents or move wings directly over the hot coals to raise the grill to 450–500°F. Sear 3–5 minutes per side until deeply crisp and 185–190°F internally. Brush lightly with a few spoonfuls of the buffalo sauce during the last minute to set a thin glaze.
Toss and serve: Rest wings 3 minutes, then transfer to a bowl and toss with just enough warm sauce to coat. Serve immediately with extra sauce on the side.