Preheat your oven to 400°F (200°C) if baking, or heat a pan with oil for frying over medium-high heat.
Crush the Rice Krispies cereal in a large mixing bowl or place it in a sealed bag and crush with a rolling pin until the pieces are smaller but still crunchy.
In another shallow dish, mix the flour, garlic powder, onion powder, paprika, salt, and pepper.
In a separate bowl, whisk the eggs and milk together.
Dredge each chicken breast first in the seasoned flour mixture, then dip into the egg mixture, and finally coat with the crushed Rice Krispies.
For baking: Place the coated chicken on a baking sheet lined with parchment paper. Lightly spray with cooking spray or drizzle with melted butter. Bake for 25-30 minutes or until the chicken reaches an internal temperature of 165°F (75°C). For frying: Heat oil in a frying pan over medium-high heat. Fry the chicken for about 5-7 minutes on each side or until golden brown and cooked through.
Let the chicken rest for a few minutes before serving.
