In a shallow bowl or on a small plate, combine chili powder, sugar, and salt. Rub a lime along the rims of your glasses and dip glasses in the spice mixture to coat rim.
Put fresh or frozen pineapple, pineapple juice, tequila, lime juice, triple sec, honey, and ice to blender and blend until smooth.
Give the blender another pulse or two right before you're ready to pour the drinks (the cocktail settles quickly). Equally divide cocktail among glasses.