If chilies are dried, soak in about 1 cup hot water until soft, about 15 minutes. Wearing rubber gloves, remove chili stems and, for minimum heat, discard seeds and veins. Finely chop chilies and mix with honey.
Trim excess fat off lamb.
Lay chops on a grill over a solid bed of hot coals or high heat on a gas grill (you can hold your hand at grill level only 2 to 3 seconds); close lid on gas grill. Cook chops until lightly browned on each side and still pink in the center (cut to test), turning once, 5 to 6 minutes total.
Brush tops of chops with honey mixture, turn over, and cook until glazed sides darken slightly, about 30 seconds (watch closely; honey glaze burns easily). Brush tops with remaining honey mixture, turn glazed sides down, and cook just until slightly darkened, another 30 seconds. Transfer meat to plates. Season to taste with salt, pepper, and lime juice squeezed from wedges.