I have to say that newspaper in the vicinity of a stove is a spectacularly bad idea. If the food you are frying has been dried properly, splattering should be minimal and a splatter screen takes care of the rest.
I also prefer peanut oil, since canola has a corn flavor that I find unpleasant. Also, you don’t need to deep fry. You can shallow fry in a heavy skillet, just like for fried chicken. Or you can oven fry, which comes out just as good IMO.
I just use any old pot with a thick bottom and high sides. Fill it up 1/3-1/2 way (usually an entire bottle of oil). My prefered cooking fat of choice is peanut oil – it has a high smoking point, and I prefer deep frying my wings at higher than 375F, closer to 400F. (Probably about 385-390 if I wanted to be exact). Bring your wings to room temperature before deep frying.
We always used newspaper but I guess it kinda depends how your stove area is set up. With ours (and, I suspect, most), if the flames are touching the newspaper then you’re probably on fire too. But maybe I shouldn’t be arguing with someone called Chefguy.
Second vote for the wok here, works like a charm. The shape reduces splattering and uses less oil. Use peanut oil, has a neutral flavor and a high smoke point. I recently did a beer batter fry up with shrimp, zucchini, broccoli, mushrooms, onions and red bell peppers and it was stellar, no splash, no splatter, easy to regulate the temperature.