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The first answer to your question is: yes, it's okay to do.
For the basic procedure, I'll defer to my supplier's website, as he smokes lots of sausage, both wild game and domestic.
If you take a look at this Sausage Info Page on his website, you'll see his basic procedure down towards the bottom of the page.
There is also a decent write-up on botulism and trichinosis, which are two forms of food poisoning that you want to be careful about when smoking sausages.
Hope that helps, and hope the venison comes out great! Looking forward to hearing the results!
granddaddy71-Welcome to SMF, nice to have you here. Please tell us a bit about yourself, how long you've been smoking foods and what kind of equipment are you using. We like details and we also like photos. Also, you might be interested in checking out the Sausage Forum in the Smoking Meats (and other things).