Heat vegetable oil in a large high-sided saute pan, about 2 inches up the pan or half way up the pan, over medium high heat.
In a large bowl, whisk together milk, egg, sriracha, salt and pepper.
In a separate medium sized bowl, stir together flour, panko breadcrumbs, basil, cornstarch, garlic powder, onion powder, cayenne, salt and pepper.
Add chicken to buttermilk mixture, then use tongs or clean fingers to dredge a few pieces of chicken in the seasoned flour, and place on a clean plate. Repeat until all the chicken pieces are coated in flour and breadcrumbs and on the plate, ready to fry.
Working in batches, add breaded chicken to your pan. When they begin floating, about 2 minutes in, let them cook for another minute until they are golden brown and crispy. Transfer with a spider onto a paper towel-lined plate to drain of excess oil. Repeat until all chicken is cooked.
Serve immediately with sauce. You can dunk it, drizzle it on, paint it on with a brush, just don't skimp on it because it's so good!