Ideally you will salt the brisket the night before you start cooking, but you can salt it when you start, too. Salt and pepper the brisket really well. This would be when you use a spice rub if you're using one.
Get your smoker going to about 200°F. Use whatever wood you like, although I prefer oak, hickory or cherry.
Set the brisket in the smoker fat side up. Smoke for as long as you want, but at least until the internal temperature hits 140°F. I prefer about five to six hours under smoke. You probably don't want to let it go more than eight hours.
Now wrap your brisket. I prefer foil for bison, butcher paper for beef, because the bison is lean and its connective tissue takes longer to break down, so you want a better seal. If you want or have some, pour some melted bison, beef or pork fat over the brisket before you seal it. Set the wrapped brisket either back in the smoker or an oven set to 225°F. Cook until it hits an internal temperature of at least 195°F and up to 210°F. This could take many hours, so be patient.
The brisket is done when you jiggle it and it wobbles, meaning the connective tissue has broken down, or when the point of the knife slips in easily to the thickest part of the meat, and the brisket is very tender. Remove it from the heat and let it rest, still wrapped, for basically as long as you can stand, but at the very least 1 hour. Slice and serve after that.