For sauce mixture: in a medium-sized bowl, beat the eggs with the water. Add hot sauce and whisk together well.
For seasoning mixture: In a small bowl, combine 1 teaspoon salt, 1/4 teaspoon freshly ground black pepper and 1/4 teaspoon garlic powder.
For dredging mixture: In a another bowl, mix flour, baking powder and 1/4 teaspoon salt.
Rinse and pat dry chicken pieces with a paper towel.
Cut breast pieces in half across ribs. Sprinkle chicken generously on both sides with seasoning blend.
Drop chicken in sauce mixture. Cover with saran wrap and marinate for an hour in refrigerator.
Heat peanut oil in a large deep pot to 350°F (do not fill more than half full--you don't want a hot-oil spill-over accident!).
One piece at a time, roll chicken in flour mixture and drop into hot oil. Don't crowd chicken pieces--I cook about half the chicken at a time. Fry chicken until brown and crisp.Drain on paper towel.
Dark meat will take about 14 minutes, white meat about 10 minutes.Remember smaller pieces cook faster than the larger ones. You can check for doneness by piercing to the bone in the thickest part with a fork. If the juices run clear, it is done.