Fill a 9-inch cast iron or standard skillet with about 2 inches of oil. Start heating it over medium-high heat while you bread the chicken. (Keep an eye on it!)
In a large bowl, mix the flour, salt and pepper.
In another large bowl, beat the egg and water
Dredge the chicken in the flour, coating well. Shake off excess flour and dip in the egg, the back in the flour.
Set the chicken to the side to rest for about 5 minutes. (This helps the coating stick better)
Check your oil temperature with a candy thermometer if necessary (you should be around 365-375 degrees) or drop in a little bit of flour--if it sizzles immediately, you can add one piece of chicken.
If the chicken sizzles, add about 5 pieces at a time and cook until golden brown on that side--about 8 to 10 minutes or so.
Turn, and repeat until all brown.
Cook the rest of the chicken in batches.
Transfer to a paper towel lined plate and sprinkle with a little more salt if needed.