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1
Preheat the oven to 300 degrees F. Cut the steak into 4 equal portions.
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2
Put the buttermilk in a medium baking dish and season with salt and pepper, to taste.
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3
Combine the 2 1/2 cups of flour, garlic powder, onion powder, paprika, chile de arbol and 2 teaspoons kosher salt and 1/2 teaspoon freshly ground black pepper in a bowl and divide it between 2 baking dishes.
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4
Dredge the steak, a few pieces at a time, in the flour mixture and pat off the excess.
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5
Dip them in the buttermilk and allow the excess to drain off.
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6
Dredge them again in the flour and pat off the excess.
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7
Put the chicken pieces on a baking rack set over a baking sheet while the oil heats.
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8
Heat 1-inch of oil in a large cast iron skillet until it reaches 360 degrees F on a deep-fry thermometer.
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9
Add the meat, 2 pieces at a time, and cook until golden brown on both sides.
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10
Remove them to a plate lined with paper towels and season with salt, to taste.
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11
Repeat with the remaining pieces.
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12
Transfer the meat to a rack set on a baking sheet and keep them warm in the oven while you make the gravy.
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13
Remove all but 2 tablespoons of the fat from the skillet, leaving the crunchy pieces from the breading.
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14
Add the bacon and cook until golden brown and crisp.
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15
Remove with a slotted spoon to a plate lined with paper towels.
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16
Return the skillet to the stove over medium heat.
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17
Whisk the remaining 2 tablespoons of flour into the pan and let it cook for 1 minute.
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18
Slowly whisk in the warm milk and continue to cook, whisking occasionally until thickened.
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19
Stir in the heavy cream and thyme and season with salt and lots of freshly ground black pepper, to taste.
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20
Serve 1 piece of steak per person ladled with some of the sauce and garnished with a few pieces of bacon.
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21
Garnish with thyme sprigs.
