Pat the chicken dry thoroughly with paper towels. If using breasts, pound to ¼-inch thickness.
Set up breading station: In Bowl 1, whisk pancake mix, garlic powder, salt, pepper, and cayenne. In Bowl 2, whisk eggs until frothy. In Bowl 3, add crushed cereal.
Bread the chicken: Dredge each piece in pancake mix (shake off excess), dip in egg, then press into cereal crumbs to coat completely.
Air fry: Spray air fryer basket with cooking spray. Place chicken in a single layer (don't overlap). Spray the tops generously with cooking spray. Cook at 340°F for 10–12 minutes, flipping halfway, until the internal temperature reaches 165°F.
Serve immediately with maple syrup, ranch, honey mustard, or your favorite dipping sauce.