In a large pot, mix together the hot sauce, cola, cayenne pepper, black pepper and soy sauce. Add the wings to the sauce - frozen is okay. Place the pot to one side of the grill, so the sauce comes to a simmer.
Use tongs to fish wings out of the sauce, and place them on the grill for 8 to 10 minutes. Then return to the sauce to simmer. Repeat this process for about 50 minutes. The sauce will thicken. When the chicken is tender and pulls easily off of the bone, you have two options. You can dip one last time and serve for sloppy style wings, or serve right off the grill for dryer wings.