1. Yes, 500 F is high but baking the chicken wings at that temperature speeds up cooking the chicken while crisping them up at the same time. If your oven can't go up to 500 F, crank it up as high as it can and bake until brown and crispy.
2. You might think that to prevent soggy crust when baking, you'd want to place the chicken on a wire rack. However, when you put the on the pan, the pan becomes hot enough (like on the stove) that it beautifully crisps the skin.
3. Make sure chicken wings are in room temperature before baking.