Norwich City boss fuming at 'nasty' incident in Wigan Athletic draw
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Full-back Aarons levelled the scores on the hour mark after James McClean had put Latics ahead just before the half-hour.
Latics then dodged a bullet when Ben Amos tipped a goalbound effort from Teemu Pukki on to the bar.
And City were incensed in the closing stages when Naylor slid in to tackle Aarons as he shot, winning the ball but clattering his opponents with his follow through.
"We should be winning the game, and you have to question why the penalty wasn't given after the tackle on Max Aarons," fumed Smith.
"I didn't see it at the time, I've just seen it back, and it's nasty.
"It's stonewall. To me it was a scandalous decision.
"The fact that Max has got a nasty gash on his shin tells you everything you need to know. It was a horrendous challenge.
"I'll tell you something, you wouldn't even have got away with something like that in my playing days when referees were a lot more lenient.
"You couldn't go over the top like that. It should have been a red card and a penalty."
"The referee was looking straight down the barrel of that one and the fact that he doesn't see it worries me.
"That would probably have won us the game."
On the result, Smith said: "There's going to be a lot of teams that come here and sit back like Wigan have done, and celebrate getting a point.
"It's a point they've pinched, and two we've dropped.
"We pegged them back for long periods and had the better chances.
"We had 22 attempts and gifted them their two chances by our mistakes.
"If we had played like that against Cardiff last week (when they lost 1-0) I think we would have won by three or four.
"For the first 30 minutes we were relentless and after dropping a bit at the end of the half we were back on it in the second.
"I can't fault the application and attitude of the lads - they are gutted in the dressing room not to have taken all three points."
Smith's view on the 'penalty' was countered by former Latics midfielder Michael Brown, who was on punditry duties with Sky Sports.
"As the ball comes back inside, as a midfield player, all you're trying to do is get back and help your full-back," he said.
"You see the ball, and you think 'I have got to get something on it'.
"Is there a slight follow through? Yes.
"Is there any intent? I can see why some people would look at it and think it's slightly dangerous.
"But he gets the ball...and it's a good tackle...I think...it's very borderline...and he just gets away with it."
Latics boss Leam Richardson, not surprisingly, sided with Brown’s view.
"I didn't think any of their appeals were penalties, to be honest,” he said.
"I thought they all went down very easily, and the referee managed the game very well.
"There must have been five or six shouts, but our lads defended resiliently and they deserved to see out the game."