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Preheat the oven to 350 degrees F. Line two large rimmed baking sheets with foil or parchment paper. Then set a wire baking rack on each sheet.
Mix the brown sugar, bourbon, vanilla, and crushed red pepper in a large bowl. Cut the bacon into squares and toss it in the bourbon mixture. Mix well to coat.
Place the bacon squares on the wire racks. Brush additional bourbon mixture over the bacon, saving the rest for later. Bake for 40-60 minutes, until the bacon is brick-red and crisp. Brush the bacon with the remaining bourbon glaze halfway through baking. (Cooking time depends on the thickness of your bacon.)
The bacon will still be a little flexible while it's hot, but should quickly cool into dry pieces that are crisp on both sides. You can take a piece out of the oven and cool it to test for doneness. Cool the bacon to room temperature, then serve or package for gifts! (Crisp dry Pig Candy can sit out at room temperature for up to 3 days. But feel free to keep it in the refrigerator, just to be safe.)