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1
For the prime rib: Rub the prime rib with the spice rub, put in the refrigerate on a rack set over a baking sheet (uncovered) and let marinate for at least 4 hours and up to 8 hours.
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2
For the red wine steak sauce: Heat the oil in a medium saucepan over medium heat.
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3
Add the garlic and shallots and cook until soft, about 2 minutes.
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4
Add the tomatoes, increase the heat to high and cook until softened, about 5 minutes.
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5
Add the wine, ketchup, 1/2 cup water, raisins, molasses, brown sugar, horseradish, Dijon mustard, Worcestershire, cayenne, allspice and salt and pepper to taste and cook for 10 minutes longer.
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6
Add a splash of red wine vinegar, and taste for salt and pepper.
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7
Transfer to a blender and blend until smooth.
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8
Let cool to room temperature.
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9
Prepare your grill using a kamada-style grill, kettle grill, bullet smoker or gas grill method for smoking.
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10
Remove the prime rib from the refrigerator 30 minutes before cooking and let sit at room temperature.
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11
Sprinkle well with salt and put the prime rib, fat-side up, on the grill grate.
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12
Maintaining a temperature of about 250 degrees F (if using a kettle grill or bullet smoker, replenish fire with unlit coals, as needed, to maintain temperature; see manufacturer's instructions), cook until an instant-read thermometer inserted in the center reads 130 degrees F, between 3 1/2 to 4 hours.
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13
During the last hour of cooking (at about 110 degrees F), begin brushing with some of the red wine steak sauce and stop adding chips to the smoker.
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14
Remove the prime rib from the grill, brush with more of the red wine steak sauce and let rest, loosely covered with foil, for 20 minutes before slicing.
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15
Combine all ingredients in a small bowl.
