Preheat oven to 375 degrees F (190 degrees C). Sprinkle the chicken wings on all sides with cayenne pepper and seasoned salt, and spread in a single layer into a large baking dish.
Bake the wings in the preheated oven until the skin is browned and crisp, 30 to 40 minutes, turning the wings over halfway through cooking for even browning.
While the wings are baking, combine hot sauce, molasses, and liquid smoke flavoring in a saucepan over medium-low heat. Stir in the onion, green pepper, and garlic, and bring the mixture to a boil. Stir in the blue cheese dressing. Reduce heat to a simmer, and cook until the onions are translucent, about 5 minutes. Remove from heat.
Transfer the wings from the baking dish to paper towels to drain excess grease. Pour off any excess fat from the dish, and return the wings to the dish. Pour the sauce evenly over the wings, turning them over with a spatula or tongs to coat all sides with sauce.
Return to the oven and bake until the sauce has thickened and cooked onto the wings, about 20 minutes. Cool for about 5 minutes before serving.