For the steak: Place a rib-eye between 2 pieces of plastic wrap and gently flatten with the smooth side of a meat mallet. Remove the top layer of plastic and pound with the tenderizing side of the mallet, turning the meat over to tenderize on both sides. Repeat with the remaining steaks. Generously season with salt and pepper and set aside while you set up the breading station.
In a shallow dish, stir together the cracker meal, flour, cayenne and some salt. In another shallow dish, whisk together the milk and eggs.
Dredge a steak in the flour mixture, shaking off any excess. Now dip it into the egg wash, letting any extra drip off. Return the meat to the flour mixture and coat it well. Put onto a baking sheet while you coat the rest.
When ready to fry, heat 1/4 inch of oil in a large cast-iron skillet over medium heat. When hot, fry the steaks in batches until golden brown, 3 to 4 minutes per side. Drain on paper towels and keep warm.
For the gravy: Put the skillet with the grease back over the heat. When the grease is hot, sprinkle the flour evenly over the grease. Using a whisk, mix the flour with the grease, creating a golden-brown paste. Add more flour if it looks overly greasy; add a little more grease if it becomes too pasty/clumpy. Keep cooking until the roux reaches a golden brown color, about 5 minutes.
Pour in 3 cups of the milk, whisking constantly. Add the seasoned salt and black pepper to taste and cook, whisking, until the gravy is smooth and thick, 5 to 10 minutes. Be prepared to add more of the remaining milk if it becomes overly thick. Be sure to taste to make sure the gravy is sufficiently seasoned.