In an electric skillet or deep-fat fryer, heat oil to 350°. Fry chicken wings, a few at a time, for 10-12 minutes or until the juices run clear. Drain on paper towels. Combine tomato sauce, butter and hot pepper sauce in a large bowl; add wings and toss to coat. Let stand for 15 minutes. Remove wings from sauce. Cover and refrigerate for 8 hours or overnight.
Place wings in a greased 13-in. x 9-in. baking dish. Cover and bake at 350° for 25-30 minutes or until heated through. Uncover and bake 5 minutes longer. Baste wings with pan drippings; serve immediately. If desired, serve with Blue Cheese Garlic Dip (recipe below).