Soak wood chips in water for at least 30 minutes.
Prepare charcoal fire in smoker; let burn 15 to 20 minutes.
Place 1 cheese block on top of the other; coat with cooking spray. Place lengthwise in center of a 24-inch piece of cheesecloth. Tightly wrap cheesecloth around stacked cheese. Place wrapped cheese crosswise in center of another 24-inch piece cheesecloth; tightly wrap.
Drain chips, and place on coals. Place water pan in smoker; add water to depth of fill line. Place wrapped cheese, seam side down, on upper food rack; cover with smoker lid.
Cook cheese 2 hours.