Preheat pellet smoker to 200˚F
Prepare bacon slices by placing them in a single layer on a baking sheet with a rack.
Combine brown sugar, bourbon, and black pepper in a small bowl. Mix completely. It will come together but be pretty grainy.
Use a pastry brush or basting brush to apply a thin layer of the bourbon and brown sugar mixture to the bacon. Evenly coat both sides of each piece. It should be a very thin layer, not a heavy coating.
When the smoker has reached 200˚, place the bacon with the wire rack directly on the grates and close the lid. Cook for two hours.
After two hours, blot the bacon with a paper towel to absorb any excess grease. Flip the bacon over and rotate the wire rack to ensure even cooking for all of the bacon jerky.
Close the lid and cook for an additional 1-2 hours. For best results, smoke the bacon jerky for at least an extra 1 and ½ hours to really get a good jerky texture.
After the bacon jerky has finished cooked, transfer the jerky to a large plate or cutting board and allow it to cool for 5 minutes before serving.