First and foremost, prepare your smoker and bring to a solid 250. Add several soaked chunks of your favorite hardwood, I find apple to be the best all-around smoking.
In a large cast iron skillet over medium-high heat, cook the bacon pieces for 2 to 3 minutes per side, long enough to render fat, but not long enough to crisp thoroughly. Remove the bacon to a plate with a paper towel.
In the leftover bacon grease, add the onions and jalapeos and cook for 3 to 5 minutes, stirring frequently until they have softened and the onions are slightly translucent.
After onions and jalapeos are ready, add the cans of pork and beans (liquid and all) into the skillet. Add in the barbecue sauce, brown sugar, cider vinegar, mustard, and molasses. Stir to combine. Place the slices of bacon on top of the beans.
Place skillet on smoker grate and cook uncovered for about 3 hours. Beans should be pretty thick by about that time. Remove from the smoker and serve well hot.
