Prepare the risotto by adding arborio rice to a large saucepan and gradually adding warm broth, one ladle at a time, stirring constantly until the liquid is absorbed before adding more, about 20-25 minutes total.

Once the rice is creamy and tender, remove from heat and stir in butter, Pecorino Romano cheese, black pepper, and one beaten egg until well combined.

Spread the risotto on a baking sheet and refrigerate for at least 2 hours or until completely cooled and firm.

Form the chilled risotto into 2-inch balls using your hands, placing them on a parchment-lined baking sheet.

Set up a breading station with three shallow bowls: one with flour, one with the remaining 2 beaten eggs, and one with breadcrumbs.

Roll each rice ball first in flour, then dip in egg, and finally coat thoroughly with breadcrumbs.

Preheat the air fryer to 375°F and spray the basket with cooking spray.

Place arancini in a single layer in the air fryer basket, spray the tops with cooking spray, and cook for 12-15 minutes, turning halfway through, until golden brown and crispy.

Let cool for 3-4 minutes before serving.