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If your butcher has not already done so, remove the thin papery membrane from the bone-side of the ribs by working the tip of a butter knife or a screwdriver underneath the membrane over a middle bone. Use paper towels to get a firm grip, then tear the membrane off. Put the ribs in a nonreactive pan large enough to hold them. (Alternatively, use a large resealable plastic bag.)
Make the marinade: Combine the wine, olive oil, Worcestershire, mustard, and salt and pepper in a bowl and whisk to combine. Stir in the garlic, onion, and bay leaf. Pour the marinade over the meat, turning the racks to coat. Cover and refrigerate for several hours, or even overnight. Turn the racks several times so the meat is evenly marinated.
Remove the ribs from the marinade and knock off any solids. Season on both sides with Traeger Prime Rib Rub.
When ready to cook, start the Traeger grill on Smoke with the lid open until the fire is established (4 to 5 minutes). Set the temperature to 250 degrees F and preheat, lid closed, for 10 to 15 minutes.
Arrange the ribs on the grill grate, bone side down. Roast for 2 to 2-1/2 hours, or until tender. Serve immediately.