In a small saucepan over medium heat, combine all sauce ingredients except for the salt and whisk them together. Add kosher salt 1/4 teaspoon at a time to taste. Keep warm. If the sauce separates, just whisk vigorously until it is combined again.
In a heavy bottomed pot or dutch oven, add 1 lb of lard or enough peanut oil to cover the bottom of the pot by about 2 inches and heat to 250 degrees F.
Working in batches of 7-10 wings, fry chicken wings until just barely starting to get golden, and then set on a wire rack to drain. You don't have to worry too much about overcrowding the pan at this stage, but it will take longer if you do.
Turn heat up and heat oil to 400 degrees F. Again, working in batches of 7-10 wings, fry chicken wings until the skin is golden and crispy (and an instant read thermometer shows an internal temperature of at least 165 degrees F). Set on wire rack to drain. While the last batch is frying preheat a grill pan or outdoor gas grill on high (if you don't plan to char your wings, you can skip this step).
IF YOU PLAN TO CHAR: Toss wings in sauce, reserving about 1/4 of the sauce. Sear wings for 30-60 seconds per side on the grill until just a bit charred and smoky. Toss in remaining sauce, and drizzle with sriracha. Serve with ranch or bleu cheese dressing.
IF YOU DON'T PLAN TO CHAR: Toss wings in sauce and drizzle with sriracha. Serve with ranch or bleu cheese dressing.
This recipe makes about 20 wings, which is enough for a dinner for 2 or an appetizer for 4.
Why lard or peanut oil? Because they are safe at high frying temperatures and are the best tasting oils with the least rancidity at high temperatures. Make sure you buy your lard from the refrigerated section of the grocery store.
You can use a deep-frying thermometer for this if you have one, or just a regular digital instant-read thermometer will work just fine!