Age appropriate discipline is definitely not spanking- even if he is in danger. Discipline means to guide and teach, and that is even easier with a gifted child.
My DS2 is also 14 months, and he is the most adventurous baby in the world. I am usually what they call a "helicopter parent", but I have learnt with my baby that he is going to be getting into everything so it's best to teach him how to be safe. Within reason: put a security gate up to block the kitchen; hold his hand when you are out, or crossing the road (if he isn't being held or isn't in a pram). In the meantime, teach him everything! "The oven is hot- ouch!" "Be gentle with the cat. See? Pat him gently". It also won't happen overnight; you need consistency. So, rather than behaving for fear of a smack, he will behave because it is ingrained in him.
And, remember, he may be gifted but he is still a baby. He is still learning in this world, and that includes mistakes.
