Whisk together the flour, cayenne pepper, 1/2 tsp kosher salt, and 1/4 tsp black pepper in a shallow dish and set aside.
In a separate shallow dish whisk the egg, buttermilk, baking soda, and baking powder and set aside.
Set a wire baking rack onto a baking sheet and set aside. Pat the steaks dry with a paper towel and season with 1/2 tsp salt and 1/4 tsp pepper.
Working one at a time coat the steaks in flour and shake off the excess then dip into the egg mixture, make sure it is well coated then allow the excess to drip off. Coat again in the flour and dont shake off the excess. Place on the wire rack and continue until all the steaks are coated.
Heat the oil in a deep skillet over medium-high heat until it shimmers.
Working in batches of two carefully lower the steaks into the hot oil and fry until golden brown, turning over once. Should take about 3 minutes per side. Place on a paper towel lined plate to drain. Continue cooking in batches until all the steaks are cooked.
Make the gravy: Pour off all but the 3 tablespoons of cooking oil, leaving all the cooked brown bits in the pan. Turn the heat to medium and add the flour. Stir until flour begins to brown, about 2 minutes. Pour in the chicken broth and milk. Stir until the gravy thickens, about 2 more minutes. Taste and season with salt and pepper.
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