Pat steaks dry; season both sides with salt and pepper. Pound about 1/4-inch thick with a meat mallet.
Mix 1 cup flour, seasoned salt, 1 teaspoon pepper, garlic powder, and cayenne in a shallow dish. Separately whisk eggs and 1/4 cup milk.
Dredge steaks in flour, dip in egg, then flour again, pressing to adhere.
Heat oil in a large skillet over medium-high until shimmering. Fry steaks 3-4 minutes per side until golden brown and cooked through; transfer to a plate.
Reduce heat to medium; whisk 1/4 cup remaining flour into drippings for 1 minute.
Gradually whisk in 2 1/2 cups milk, scraping up browned bits.
Cook, stirring frequently, until thickened, about 5-7 minutes. Season generously with pepper and salt to taste.
Serve steaks covered with gravy.