Preheat the oven to 425°F. Lightly coat a large oven-safe cooling rack with non-stick spray and place it over a rimmed 18x13-inch baking sheet. Set aside.

In one shallow dish, combine the flour, smoked paprika, garlic powder, ancho chili powder, and onion powder, whisking to mix.

In a separate shallow dish, whisk the eggs until fully combined and smooth.

In a third shallow dish, use your fingertips to toss the cornflakes with olive oil, ensuring the cornflakes are evenly coated.

Sprinkle a generous amount of salt and pepper on both sides of the chicken pieces. Then, taking one piece at a time, coat it thoroughly in the flour mixture, shaking off any excess flour afterward.

Next, dip the coated chicken into the egg, ensuring all sides are well covered. Then, move it to the crushed cornflakes, coating both sides thoroughly. Press down gently and scoop some cornflakes over the top to create a generous and even layer that sticks well.

Place the coated chicken strips on a cooling rack and continue the process with the remaining pieces.

Bake in the preheated oven until the chicken is fully cooked, reaching an internal temperature of 165°F in the thickest part, which should take approximately 15 to 20 minutes. If the chicken starts to brown too much toward the end, loosely place a sheet of foil over the top without sealing it.

In a microwave-safe bowl, combine the honey and butter, heating for about 30 seconds or until the butter is almost melted. Remove from the microwave, then add sriracha and season with salt to taste, stirring until well blended.

Drizzle the hot honey mixture over the chicken and serve immediately. For an extra crispy option, consider serving the hot honey sauce as a dip; you might want to double the quantity for this.