Heat air fryer to 350˚F. Line a rimmed baking sheet with waxed paper.
Place flour into a shallow bowl. Lightly beat eggs in a separate shallow bowl. Combine the bread crumbs, garlic powder and cayenne pepper in another shallow bowl.
Coat cheese curds, a few at a time, in flour. Dip cheese curds into eggs; then coat with crumb mixture, shaking off any extra coating between steps. Place cheese curds on prepared pan.
Lightly spritz curds with cooking spray just before placing into air fryer basket. Arrange curds in a single layer in the basket. Refrigerate remaining curds until frying.
Set timer for 5-7 minutes. Fry curds, removing basket at 3 minutes; flip curds. Cook for 2-4 minutes longer or until light brown, crispy and the curds begin to melt. Repeat step with remaining curds, starting with a light spritz of cooking spray.
Serve in a bowl or parchment-lined basket with dipping sauces.
