In a large bowl, whisk together the hot pepper jelly and canola oil until smooth; transfer half to a lidded container and refrigerate for serving later.
Season the chicken wings with kosher salt and freshly ground black pepper, then place them in a zipper-style plastic bag.
Pour the remaining pepper jelly mixture over the chicken in the bag and knead the bag to coat each piece evenly; refrigerate the bag for 1 to 24 hours.
Remove the marinated chicken and the reserved sauce from the refrigerator 15 minutes before cooking.
Preheat the oven to 425°F and position the rack in the middle. Line a rimmed baking sheet with foil and set a sprayed metal baking rack on top.
Use tongs to place the wings on the prepared rack, shaking off excess sauce and leaving space between pieces for even baking.
Bake at 425°F for 30 minutes.
Remove the wings from the oven and divide the reserved refrigerated pepper jelly sauce into two bowls: one for brushing and one for serving.
Brush each wing on all sides with the brushing portion of the reserved sauce, flip the wings, then reduce the oven temperature to 400°F.
Return the wings to the oven and bake an additional 20–25 minutes, until the chicken is cooked through and the sauce is caramelized.
About 5 minutes before the wings are done, gently heat the remaining reserved sauce in a small saucepan until warm for serving.
Garnish the cooked wings with chopped fresh cilantro and serve with the warmed pepper jelly sauce.