In a large saucepan, combine the first nine ingredients. Bring to a boil, stirring constantly. Reduce heat; simmer, uncovered, for 30 minutes, stirring occasionally. Remove from the heat. Remove 2 cups sauce to a bowl; cover and refrigerate for serving.
Place brisket in a shallow roasting pan; brush with Liquid Smoke if desired. Pour remaining sauce over meat. Cover and bake at 325° for 3 hours or until meat is tender.
Let stand for 5 minutes. Heat reserved sauce. Thinly slice meat across the grain. Serve sauce with meat.