Let the ribeye roast come to room temperature. Place the ribeye on a greased wire rack set over a baking sheet. Season all over with salt and freshly ground pepper.
Bake the roast for 3 hours, or until the internal temperature reaches at least 125°F (52°C) for an eventual medium-rare cooked prime rib. Let the ribeye cool to room temperature.
Increase the oven temperature to 450°F (230°C).
Mix together the butter, garlic, paprika, chives, rosemary, brown sugar, salt, and pepper in a medium bowl.
Rub the butter mixture all over the ribeye roast.
On a large piece of parchment paper or plastic wrap, weave together the bacon strips until you have a bacon lattice twice as long and twice as wide as the roast.
Place the bacon lattice over the roast and tuck any excess bacon around the prime rib.
Return the bacon-wrapped roast to a greased wire rack set over a baking sheet.
Bake the roast for 30 minutes, or until the bacon lattice is crispy. The center of the meat should not heat up too much so it is very important you cook it to the desired doneness when the roast is in the oven the first time.
Remove the roast from the pan and pour the pan drippings into a medium saucepan over medium heat.
Add the flour, whisking until there are no lumps and the mixture starts to simmer.
Add the beef broth and stir until the gravy comes to a boil.
Remove the pan from the heat and strain the sauce into a gravy dish.
Carve the prime rib into ¾-inch slices, then serve with the gravy and any sides you like!