Pat the prime rib dry. Cut small slits all over the meat and insert garlic. Add rosemary, then season generously with salt and pepper. Mix melted butter, beef baste, and red wine.
Preheat smoker to 525°F. Smoke the prime rib for 30 minutes, basting once or twice. Remove from smoker and loosely tent with foil while the smoker cools to 225°F, about 20–30 minutes.
Return the roast to the smoker and cook at 225°F until internal temperature reaches 125°F, about 1½–2½ hours. Remove, rest 20–30 minutes, then slice and serve.