1. In a small bowl, mix the first 8 ingredients forming a loose paste.
2. Rub the paste all over the two racks of lamb, cover and refrigerate for at least 3 hours, preferably overnight.
3. Remove racks from refrigerator 20 minutes before cooking and place them in a roasting pan just large enough to hold them comfortably.
4. Pre-heat the oven to 475°F.
5. Cook for 10 minutes, then reduce the oven temperature to 375°F and continue roasting 10-15 minutes.
6. Lamb is ready when an instant-read thermometer inserted into the rack reads 125°F for rare.
7. Transfer the lamb to a carving board, cover loosely with aluminum foil, and let stand for 5 minutes.
8. Meanwhile, place the roasting pan over a burner on top of the oven turned to high heat.
9. Pour the red wine into the pan and deglaze the pan, scraping up all the brown bits from the bottom.
10. Pour the wine into a small sauce pan over low heat, stir in the butter and let wine sauce simmer while you cut up the racks of lamb.
11. Cut the lamb into individual rib chops and arrange on warmed plates.
12. Drizzle with the wine sauce and serve hot.