Preheat your smoker to 250 degrees F using any mild or fruit wood. (Pecan is a good choice)
Preheat a 12 inch cast iron skillet over medium high heat. Cook the bacon pieces for 2-3 minutes per side. Long enough to render fat, but not long enough to crisp thoroughly.
Remove the bacon pieces to a plate with a paper towel on top so they can drain. Leave the bacon grease in the pan and add the onions and jalapenos. Cook for 3-5 minutes, stirring frequently, until they have softened and the onions are slightly translucent.
Pour the cans of beans (liquid and all) into the pan. Add in the barbecue sauce, brown sugar, apple cider vinegar, Dijon mustard, and molasses. Stir to combine.
Crumble some of the bacon into the beans - place a couple slices of bacon on top of the beans and head out to the smoker..
Smoke, uncovered, for about 3 hours, or until nearly all of the fat has rendered from the bacon and the beans have thickened up nicely. Remove from the smoker and serve while warm.