Preheat oven to 400F.
In a large bowl, mix the buttermilk or yogurt and hot sauce. Submerge the chicken pieces in the mixture and let soak in the refrigerator for at least 1 hour (up to 24 hours).
In a large, zip-close plastic bag, add the breadcrumbs, parmesan cheese, black pepper, cayenne pepper, onion powder, garlic powder, and paprika. Seal the bag and shake until all the ingredients are well-blended.
Remove the chicken breasts from the liquid and transfer the pieces directly to the bag with the breadcrumb mixture. Shake the bag until the chicken breasts are evenly coated with the breadcrumbs.
Use a nonstick baking sheet or spray lightly with nonstick spray.
Take the chicken pieces from the bag and lay them on a nonstick baking sheet or lightly coat the sheet with nonstick spray. Refrigerate, uncovered for 30 minutes.
Remove the chicken from the refrigerator and bake for 25- 30 minutes or until cooked through.