Prepare an outdoor smoker or if using a stovetop smoker, use 1 1/2 tablespoons of the "smoke dust" in the bottom. Fit the drip pan in the smoker and pour 1/2 cup water into the pan. Position the rack on top and place the ears of corn on it. Close the lid and place the smoker over high heat. When smoke begins to appear, reduce the heat to medium. Cook for 20 minutes, or until tender. If using an outdoor smoker, put a pan of water close to the smoke source so that the corn won't dry out. Serve with Chile Butter, salt, and pepper.
Blend the chile powder with the butter until light and fluffy. Season the butter with salt and pepper, to taste.