Cut the chicken breast into even, bite-sized pieces.
In a shallow bowl, whisk together the flour, cornstarch, cayenne, paprika, garlic powder, salt, and pepper. In a second bowl, beat the eggs.
Dip each piece of chicken in the egg, then dredge in the flour mixture, pressing gently so the coating sticks.
Preheat the air fryer to 370°F (187°C) for 3–5 minutes.
Lightly spray the basket with cooking spray. Arrange the chicken in a single layer without overcrowding, and spritz the tops with cooking spray. Air fry at 370°F for 10–12 minutes, shaking halfway, until golden brown and cooked to 165°F internal.
While the chicken cooks, melt the butter in a small saucepan over medium heat. Stir in the hot sauce, honey, and garlic powder; simmer 2–3 minutes until slightly thickened.
Place the cooked chicken in a large bowl, pour over the sauce, and toss to coat. Serve immediately with ranch or blue cheese for dipping.