Russell kicked seven goals from seven attempts and Hogg was at the heart of everything Scotland did well with numerous classy attacking touches in a 29-13 victory in Edinburgh watched by British and Irish Lions coach Warren Gatland.
The dynamic Hogg is surely now the leading contender to play fullback against New Zealand this year and followed up three tries in the opening two games with a performance full of vim and vigour, frightening the Welsh defence with searing pace and sublime handling.
Russell, meanwhile, is quickly becoming one of the best attacking flyhalfs in the Northern hemisphere but has added a calming influence to his game highlighted by his perfect record with the boot in a mature performance.
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"The boys were awesome today," Russell told the BBC. "It was always going to be a tough game, especially with both teams coming off a loss. I'm so proud of the boys.
"We knew if we were in the game at half-time then we would be good enough and we dug deep.
"I've got Greig's (Laidlaw) boots on and I was happy to keep the scoreboard ticking over with my kicking today."
Scotland have had poor representation in recent Lion's squads but have a number of in-form players making strong cases for inclusion against the All Blacks.
Brothers Jonny and Richie Gray headline a maturing, dynamic forward pack, injured captain Greig Laidlaw is a huge influence and centre Huw Jones has had an eye-catching start to his test rugby career. Wingers Tim Visser, Tommy Seymour and Sean Maitland are accomplished finishers.
Visser and Seymour scored the tries against Wales but it was the inventive, electrifying duo of Hogg and Russell, never far from each other, who stole the show.
Scotland remain in contention for the Championship and captain John Barclay said his side were oozing confidence ahead of their visit to Twickenham to face champions England.
Wales interim head coach Rob Howley, however, conceded the Championship was out of reach for his error-riddled side.
"Losing today, our Championship is over but it's about pride in the next two games," he told the BBC. "Scotland were better than us and deserved the win."
(Reporting By Tom Hayward, editing by Ed Osmond)
