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Melt guava jelly in medium microwavable bowl on HIGH 30 seconds or until melted. Add lime juice, black pepper and red pepper; mix well. Reserve 1/2 cup for glaze. Add garlic powder, oil and salt to remaining mixture in bowl. Pour into large resealable plastic bag. Prick chicken wings with fork. Add to marinade in bag; turn to coat well. Massage chicken wings and marinade for 4 to 5 minutes.
Remove chicken wings from marinade. Thread chicken wings onto long double skewers. Discard any remaining marinade.
Grill chicken wings over medium-high heat 15 to 18 minutes or until cooked through, turning occasionally. Place chicken wings in large bowl. Add reserved guava jelly mixture; toss to coat well.