Season the chicken pieces well with salt and pepper and place in the refrigerator for at least 2 hours, up to overnight.
Heat peanut oil in a cast iron skillet to 350 degrees F.
Beat eggs and water in a small bowl. In a shallow bowl, season flour with pepper. Dip chicken pieces in egg mixture and then coat well in flour mixture. Carefully add to oil, in batches if necessary, place lid on top of skillet, and fry until brown and crisp. Remember that dark meat requires a longer cooking time (about 13 to 14 minutes, compared to 8 to 10 minutes for white meat.)