Rehydrate red chilis in hot water for 15 minutes. After they have plumped up, remove chilis and discard water. Place chilis and the other marinade ingredients into a blender or small food processor, and pulverize mixture. It should be smooth.
Remove membrane from back of ribs, rinse and pat dry with paper towels. Set ribs, bone side down, in a glass baking dish, and pour marinade over meat portion of ribs. Cover with plastic wrap and place into the refrigerator for 4-6 hours.
Bring all BBQ sauce ingredients, except butter, to a simmer on the stove top. Reduce heat to low and simmer for 5 additional minutes stirring occasionally. Remove from heat and stir in butter. Cover and keep warm until ready to use.
Preheat grill for a medium high, indirect cook. Remove ribs from marinade and place onto grill, bone side down. Cook for two to three hours.
Begin basting during the last half hour of the cooking process. Repeat basting process 3-4 times, until 10 minutes before ribs come off the grill.
Once ribs reach an internal temperature of 185 degrees F., remove from grill and place onto a large cutting board. Carve into individual ribs and serve.