I’ve never smoked it either- so I can’t offer any personal advice other than it makes a great bath and a lovely tea!
A google search lists several sites saying the Mugmort has been traditionally smoked to help promote vivid dreams (Bear Blend talks about smoking it with on its own and paired with others, and Locus Light Farm also talks about the experience of smoking it) but as these are unfamiliar sites, I can’t speak for how reputable they are.
One of my favorite sites, Healthline, has an article that lists many uses for Mugwort- but smoking (inhalation) isn’t among them. The article does mention that Mugwort smoke has been used for moxibustion
“Mugwort or wormwood leaves are formed into sticks or cones about the size and shape of a cigar, and then burned on or over an acupuncture point to release energy.”
[From Healthline: Mugwort: A Weed with Potential]
As for possible side-effects and precautions, WebMD says that Mugwort is likely unsafe for those who are pregnant or breastfeeding and that both Mugwort and its pollen may cause allergic reactions in some people. The full examination of Mugwort can be found at WebMD: Mugwort.
From a quick search, it looks like Mugwort has potential for smoking but should be approached and used with caution. It is always a good idea to consult with a trusted doctor before experimenting with a new herb!