Set up your dredging station with three shallow dishes. Mix the milk with the eggs in one; the flour mixed with the seasoned salt and black pepper in another; and the meat in a third. Finally, you want to have a clean pan or plate to lay the steaks on after they are dredged.
Sprinkle both sides of your steak with salt and black pepper, then place it in the flour mixture and coat it well. Next, place the meat into the milk/egg mixture, turning to coat. Finally, place it back in the flour and turn to coat well. Place the breaded meat on the clean plate, then repeat with the remaining meat.
Heat the oil in a large skillet over medium heat. Add the butter. Drop in a few sprinkles of flour to make sure it's sufficiently hot. When the butter sizzles immediately, you know it's ready. Cook the meat, 3 pieces at a time, until the edges start to look golden brown, about 2 minutes each side. Remove the meat to a paper towel-lined plate and keep them warm by covering lightly with a sheet of foil. Repeat until all the meat is cooked.
After all the meat is fried, pour off the grease but do not clean the skillet. Return the skillet to medium-low heat and add ¼ cup of the grease back to the skillet and allow it to heat up.
When the grease is hot, sprinkle the flour evenly over the grease. Using a whisk, mix the flour with the grease, creating a roux that is a deep golden color. Next, pour in the milk, whisking constantly. Add the seasoned salt and black pepper to taste and cook, whisking, until the gravy is smooth and thick, 5 to 10 minutes. Be prepared to add more milk if it becomes overly thick.
Serve over steak and eggs for breakfast or steak and mashed potatoes for dinner.
