Heat oil in a Dutch oven over medium high heat to 360 to 370 degrees F (182 to 188 degrees C).
Meanwhile, dry wings thoroughly by patting them with a paper towel and place on a wire rack set inside a rimmed baking sheet.
Whisk flour, cornstarch, garlic powder, onion powder, ¼ teaspoon cayenne, paprika, 2 teaspoons salt, and 1 teaspoon lemon pepper together in a large shallow dish until well combined.
Working in batches, toss dried wings in flour mixture and shake off any excess flour mixture so there is only a thin coating of flour mixture on each wing. Return wings to wire rack.
Working in batches, fry wings, while trying to maintain an oil temperature of 350 degrees F (180 degrees C) for about 12 minutes, tossing occasionally until cooked through, browned and crispy. Set wings on a clean wire rack set inside a rimmed baking sheet to drain.
Combine remaining cayenne pepper, salt, and lemon pepper with butter, lemon zest, lemon juice, and honey in a small saucepan over medium heat and cook, stirring occasionally, until melted and well combined. Toss wings in lemon butter sauce and serve immediately.
Sprinkle with more lemon pepper if desired.
