The most near with "smoke and mirrors" then it's "vender humo"
After a politician's speech, you can say "Nos ha vendido humo" ("he has sell us smoke").
You imply all the words/promises are fake, not-working promises, merits that not are really theirs or something like this.
It has also a computer similar: vaporware
It's similar to the expresion "cortina de humo"/smoke screen, but here you're covering something, by "vender humo" you only says words that means nothing feasible.
Saludos
PD: If you have a title like "Smoke and mirrors" you can translate it as "Vendiendo humo" or "Vender humo"