In a large bowl - season chicken wings with salt and pepper to taste. Then fold wings into triangles by tucking the tip behind the drumette. Place wings into Air Fryer in a single layer with the tips facing down.
Set Air Fryer timer for 20 minutes and cook at 400 degrees. After 10 minutes pass, flip the wings so that the tips are facing up. Then flip again every 5 minutes after that.
Meanwhile, wash the same large bowl and set aside. Melt butter in microwave then add to bowl and combine with Franks and molasses. Whisk until fully combined.
Once cook time is complete - add wings to bowl and toss well to coat fully.
Place wings back in Air Fryer (tips down) and cook for another 5 minutes at 350 degrees.
Remove wings and transfer to a plate with a paper towel to drain excess fat.