Mix dark brown sugar, kosher salt, 1 tbsp black pepper, pink curing salt, and crushed bay leaf in a bowl. Rub pork belly with the mixture, place in a dish, cover, and refrigerate for 7-10 days, turning every two days.
Rinse pork, dry, and coat with remaining 2 tbsp black pepper.
Open the charcoal grill's bottom vent. Arrange 30 briquettes in a C shape, stack another 30 briquettes on top.
Place wood chunks on charcoal, position an aluminum pan in the grill center with 6 cups of water.
Light 15 briquettes in a chimney starter. Once partially ashed, place at the start of the charcoal C.
Place pork belly fat side up above the water pan. Cover grill, align lid vent over pork. Smoke until internal temperature is 150°F, around 1.5 to 2 hours.
Remove bacon, cool for 1 hour, wrap, and refrigerate for 2 hours. Refrigerate for up to a month or freeze for up to 2 months.
Halve and slice bacon about 1/8 inch thick. Rewrap unused bacon.
Oven: Preheat to 400°F, bake sliced bacon on a foil-lined sheet for 20-25 minutes, rotating halfway.
Stovetop: Cook bacon in a skillet over medium heat until crispy, 10-14 minutes, flipping once.
Drain on paper towels and serve immediately.