How to insert smoke into a part via script?

First, it seems that you're using an admin command to make the script, so I just left the ":ls" in the script.

Second, just create a Smoke/Fire object before the Float part is cloned into m2, like this.

:ls num=3.5
mouse=game.Players.LocalPlayer:GetMouse()
mouse.KeyDown:connect(function(key)
if key:lower()=="q" then
num=4.5
end
if key:lower()=="e" then
num=2.5
end
end)
mouse.KeyUp:connect(function(key)
num=3.5
end)
m=Instance.new("Part",workspace)
m.Name="Float"
m.FormFactor=0
m.BottomSurface="Smooth"
m.TopSurface="Smooth"
m.Size=Vector3.new(6,1,6)
m.BrickColor=BrickColor.new("HiOutlast")
m.Anchored=true
p=Instance.new("PointLight",m)
p.Range=20
p.Color=Color3.new(0,0,1)
s=Instance.new("Smoke",m) --You can add code underneath to change the smoke's size, color, etc. Also, change Smoke to Fire if you want fire.
m2=m:clone() --The smoke should carry over to the clone.
m.BrickColor=BrickColor.new("Really black")
m2.Parent=workspace
c=0
c2=45
while wait() do
c=c+22.5
c2=c2+22.5
p=game.Players.LocalPlayer.Character.HumanoidRootPart.Position
--game.Players.LocalPlayer.Character.Torso.CFrame=game.Players.LocalPlayer.Character.Torso.CFrame*CFrame.new(0,-(num)+3.5,0)
m.CFrame=CFrame.new(p.X,p.Y-num,p.Z)*CFrame.Angles(0,math.rad(c),0)
m2.CFrame=CFrame.new(p.X,p.Y-num,p.Z)*CFrame.Angles(0,math.rad(c2),0)
end