Place the chicken pieces in a sealable bag with the butter milk. Refrigerate for 2 hours.
Heat oil in a deep-fryer to 375 degrees F.
In a medium bowl mix together eggs and hot sauce. In a shallow plate or pie dish combine flour, paprika, cayenne pepper, black pepper, and chili powder. Mix well.
Remove the chicken pieces from the buttermilk and roll in the flour mixture, then dip in the egg mixture, and then coat in the flour mixture again.
Deep-fry in batches for 10-13 minutes or until fully cooked (the internal temperature has reached 165 degrees F.). Drain on a plate lined with paper towels.