No, you should not put wood chips in the microwave. Wood is highly flammable and can catch fire when exposed to high heat, such as that generated by a microwave. The microwave's electromagnetic waves can cause the wood chips to heat up rapidly and potentially ignite, leading to a fire hazard.
It is important to only use materials in the microwave that are specifically labeled as microwave-safe. Wood chips are not designed for use in the microwave and should be used in appropriate settings such as grills, smokers, or outdoor cooking equipment.