Adjust an oven rack to middle postiton in oven and heat oven to 200*F. Toss the flour, 1 tbls. salt, 1 teaspoons pepper and cayene together in a shallow dish. In a second shallow dish, beat the buttermilk, egg, baking powder, and baking soda together(it will get foamy).
Pat the steaks dry with paper towels, then season with salt and pepper. Dredge the steaks through the flour, then coat with buttermilk mixture, then coat again with the flour. Lay the battered steaks on a wire rack.
Pour the oil into a large large Dutch oven or pan until measures 1". Heat the oil over medium high heat until it reaches 375*. Fry 3 of the steaks until deep golden brown on both sides, about 5 minutes, then transfer to a paper towel lined plate to drain. Return the oil to 375*. and repeat with the remaining steaks. Move the steaks to a clean wire rack set over a rimmed baking sheet and keep warm in the oven.
Carefully strain the hot oill through a fine meshed strainer into a medium pot. Return any broened bits from the strainer along with 2 tbls. of the frying oil to the Dutch oven.
Return the Dutch oven to medium heat until the oil is shimmering. Add the onion and thyme and cook until softened, about 5 minutes. Add the garlic and cook until fragrant, about 15 seconds. Stir in the flour and cook for 1 minute. Whisk in the broth, scraping up any browned bits. Whisk in the milk, salt, pepper, and cayenne and simmer until the gravy has thickened, about 5 minutes. Spoon the gravvy over the steaks before serving. Enjoy!