I found an idea from Good Eats w/ Alton Brown. Although he did the entire cooking process in the oven, his braising liquid made some sense. I start w/ about a cup or so of brown sugar (depending on how much meat I'm cooking), throw in some garlic and a few pinches of salt, spill in some chili powder (sometimes I make up my own), add a splash or two of vinegar, a double splash of white wine, a few splashes of worcestershire, a big serving of honey, and a big ol' splash of apple juice. (and maybe an extra spice or two, depending on whether the spice cabinet is open and something catches my eye.)
Use this in the foil during the two-hour braising process. When you take them off, poke a hole in the foil and drain all the liquid into a sauce pan. Place the ribs on the smoker for the last hour. At the same time, simmer the juices for about 15 minutes to reduce it to a glaze. Then glaze the ribs and let them cook for the rest of the last hour.