Prep the ribs: Remove the silver skin from the back of the ribs. Pat dry with paper towels. Season both sides generously with salt, pepper, garlic powder, onion powder, and smoked paprika. Let rest at room temp for 30 minutes.

Bake low and slow: Preheat oven to 300°F (150°C). Wrap each rack tightly in foil, place on a baking sheet, and roast for 2½ hours until tender but not falling apart.

Make the glaze: In a saucepan, combine Thai sweet chili sauce, soy sauce, fish sauce, honey, rice vinegar, sriracha (if using), minced garlic, ginger, lime zest, and juice. Simmer over medium heat for 5–7 minutes, stirring often, until glossy and slightly thickened.

Glaze & broil: Unwrap the ribs and discard foil. Place ribs back on the sheet pan and brush generously with the glaze. Broil on high for 3–5 minutes until sticky and caramelized. Watch closely to avoid burning.

Garnish & serve: Sprinkle with chopped peanuts, fresh cilantro, and diced chili. Serve with lime wedges on the side.