Preheat the air fryer to 400 degrees F, air fryer setting for 5 minutes.
Prepare peanut butter sauce: add peanut butter, coconut milk, honey, salt, and soy sauce to a large bowl and whisk well. Set aside ¼ cup.
Add drumsticks to the bowl with the peanut sauce and toss to coat.
Lightly spray the air fryer basket with cooking spray. Arrange drumsticks in a single layer in the basket and cook for 10 minutes. Flip, then cook for 8 more minutes.
Brush chicken with remaining ¼ cup of peanut sauce and cook for 2 more minutes.
Make the spicy jelly. Combine jelly, jalapeno, red chili sauce, rice wine vinegar, garlic powder, and black pepper—puree in a food processor or blender for 20 seconds.
Arrange drumsticks on a platter and serve with spicy jelly.
Plate, serve, and enjoy!