For the wings: Place the wings on a baking sheet and season both sides with salt and pepper.
Pour the flour in a paper bag or large bowl and toss the wings in the flour in batches, then place on a wire rack set inside a baking sheet or on the counter. Let rest to come to room temperature, at least 30 minutes and up to 2 hours.
For the sauce: In a small pot over medium heat, combine the peanut butter, jelly, coconut cream, soy sauce and sriracha. Slowly whisk in the hot water to loosen the mixture. Bring the sauce to a simmer, then whisk as it thickens, about 5 minutes. Taste and season with a pinch of salt, if needed, and a few grinds of black pepper.
Fry the wings: In a Dutch oven, large pot or fryer, pour enough oil to deep-fry the wings, about 6 inches. Heat the oil to 360 degrees F. When you add your wings, the temperature will settle at 350 degrees F. Try to keep it there by adjusting the heat.
Fry the wings in batches until golden brown, 12 to 14 minutes. Drain on paper towels.
Sauce and garnish the wings: Place some of the sauce in a large bowl and toss the wings in batches, adding more sauce to thoroughly coat. Place the wings on a serving tray and sprinkle with the chopped peanuts. Serve warm.