Remove membrane from bottom of ribs by running knife under the skin and pulling it off.
In a small bowl, combine dry rub - brown sugar, chili powder, parsley, cumin, garlic powder, onion powder, salt, pepper and cayenne. Spread over top and bottoms side of ribs.
Stand ribs on side on metal trivet inside Instant Pot. Add water and liquid smoke to the inner pot of the Instant Pot.
Set Instant Pot for High Pressure, set valve to Sealing, and set timer for 30 minutes. After pressure cooking for 30 minutes, allow natural steam release for at least 30 minutes.
Remove ribs from Instant Pot and place on foil-lined baking sheet. Brush on a thick layer of BBQ sauce on top and bottom of ribs. Place ribs under broiler for about 5 minutes (watch closely!) until BBQ sauce caramelizes and crust forms on ribs.