Heat the olive oil in large skillet over medium heat. Brown chicken wings in batches for 5 to 7 minutes on each side or until golden brown.
Remove from skillet and set aside. Place the bourbon, olive oil, lemon juice, soy sauce, balsamic reduction, honey, chili powder, chili flakes and cinnamon in the same skillet. Cook over medium heat until boiling.
Add chicken wings and return to a boil. Reduce heat to medium-low, stirring occasionally for 25 minutes or until sauce is thickened and chicken wings are fully cooked.