Chili powder and cumin pair well with sweet summer corn. Soak the corn before grilling to prevent the husks from burning.
Place corn in cold water, and soak for 20 minutes.
Combine butter and next 5 ingredients (through red pepper) in a small bowl; set aside.
Pull husks back from corn; scrub silks from corn. Brush butter mixture evenly over corn. Wrap husks around corn. Place on a grill rack, and grill 16 minutes or until done, turning occasionally. Serve with lime wedges.