Preheat oven to 425 and grease a baking sheet with cooking spray.
Slice chicken breasts into strips.
Add chicken strips and flour to a large ziplock bag. Seal and toss to coat chicken in flour.
Place panko crumbs in a bowl.
In another bowl whisk together eggs and water.
Dip flour-coated chicken strips into egg mixture, then toss in panko crumbs to coat.
Place coated chicken pieces on greased baking sheet and spray heavily with cooking spray.
Bake 15-20 minutes until chicken is browned and cooked through.
While chicken is cooking, prepare the sauce.
Melt butter in a medium sauce pan over medium-high heat.
Add brown sugar and hot sauce and stir over medium-high heat until melted and mixture comes to a boil.
Remove from heat and stir in garlic powder and water until smooth.
When chicken strips are done cooking, toss in sauce.
Serve warm with ranch dressing if desired.
