We had this last night during a movie, and it was fabulous! Definitely not the kids' popcorn.
I didn't measure anything, but the recipe went something like this:
Pop a big bowl of popcorn. Melt some butter, and stir in some hot sauce. Drizzle on the popcorn. Shake a bit of powdered ranch dressing mix on top. Stir it all up. Pour a giant glass of water to cool the fires. Enjoy!