Preheat oven to 350 degrees F.
Wrap each water chestnut with a piece of bacon.
Place the rolls seamside down in a baking dish.
Bake in the preheated oven for 30 minutes, or until bacon is crisp and cooked through.
Drain off the grease.
In a small bowl, stir together the mayonnaise, brown sugar, and chili sauce.
Pour over the bacon-chestnut rolls.
Return to the oven and bake for another 30 minutes.
