Prepare simple syrup by combining 1/2 c. water, 1/2 c. sugar, and juice of 1 lemon in a small saucepan. Bring to a boil, stirring occasionally until sugar is dissolved. Remove from heat and set aside to cool.
In a medium pitcher, combine wine, lemonade, vodka, limoncello, and cooled simple syrup.
Garnish with lemon slices.
Chill until ready to serve.