In a mixing glass, combine Woodford Reserve bourbon, Amaro Montenegro, Casa Mariol Black Vermut, pinch of activated charcoal and two dashes of Angostura bitters. Fill glass with ice and stir for 30 seconds.
Strain into a coupe glass. Flame the strip of orange peel as you express the citrus juices into the glass. Run the flamed peel around the inside of the rim. Discard orange peel.
Place cocktail in a smoking box and use a smoking gun filled with cedar chips to smoke the cocktail. Once box is filled with smoke, open and serve immediately.