Cut chicken wings into three sections; discard wing tips. In a bowl, combine salad dressing, hot pepper sauce and cayenne. Remove 1/2 cup for basting; cover and refrigerate. Place remaining sauce in a large resealable plastic bag or shallow glass dish; add chicken and turn to coat. Seal or cover and refrigerate overnight. Drain and discard the marinade.
Grill wings, covered, over medium heat for 12-16 minutes, turning occasionally. Add butter to the reserved sauce; brush over wings. Grill, uncovered, 8–10 minutes longer or until juices run clear, basting and turning several times.
* 2½ pounds of uncooked chicken wing sections may be substituted for the whole chicken wings. Omit first step of the recipe.