Don't do more than ten at a time with a lot of oil. Around 350-375 degrees. And cook them till they float for a couple minutes. That ensures you have crispy and not greasy wings. And of course don't coat them with anything before frying. Usually takes about 6 min per batch, and you can keep them in a low heat oven (around 200 degrees) until all are dryer and ready for sauce.
For sauce go traditional. Frank's with a little butter (not half sauce half butter like the directions on the Frank's bottle). I add just a little honey. And add straight cayenne pepper if you want to make suicide wings.
To sauce throw the wings into a pot with a cover, dump some sauce in, shake to coat and voila. I always serve with celery and blue cheese, and I serve garlic bread to soak up the sauce.