Cut chicken wings into three sections; discard wing tips. Sprinkle with salt and pepper. In a skillet over medium heat, combine 2 tablespoons butter and oil. Fry chicken until brown, about 6-8 minutes on each side. Place in a greased 13-in. x 9-in. baking dish.
In a saucepan, combine taco sauce, barbecue sauce, French dressing, Worcestershire sauce, hot pepper sauce and remaining butter; cook and stir over medium heat until butter is melted and sauce is blended. Pour 1/2 cup over the chicken wings.
Bake, uncovered, at 325° for 15-20 minutes or until chicken juices run clear. Serve with the remaining sauce.