Okey: “The Approval” (of something)
Dokey: “The Acton” (alright {or fine} let’s do it)
Smokey: “The Person” (to whomever you’re talking to).

Okey Dokey Smokey is…
1.) Used to indicate that something is finished and that something else will now be done or discussed…
Okey Dokey Smokey, let’s move to the next item on the agenda.
2.) Give approval for (or of) something, on an agenda or consent

It’s said in an acceptable, tolerable, or satisfactory manner (informal)
It is often used (in a laid back manner) after a smart ass comment(s) of an individual asking for your approval of something.

Someone people turn to when they're sad who makes them feel better.

affirmative response
used in conjunction with spliff smoking

someone who smokes badly

Okey dokey is meant to convey approval but the addition of smokey adds a new connotation. It means, Ok, pothead (or anyone "smoking" something), got it, you're a stoner.