If you don't have sake on hand, substitute dry sherry, white wine, or rice wine, such as mirin.
For marinade, in a small saucepan combine the first six ingredients (through crushed red pepper). Bring just to boiling over medium heat, stirring until brown sugar is dissolved. Reduce heat; simmer, uncovered, 20 minutes. Cool to room temperature.
Place chicken in a large shallow dish. Pour marinade over chicken; stir gently to coat. Cover and marinate in the refrigerator 1 to 2 hours, stirring once.
Soak twenty-six to thirty 6-inch wooden skewers in water at least 30 minutes; drain before using. Preheat oven to 450°F. Lightly grease a 15x10x1-inch baking pan.
Drain chicken, discarding marinade. Pat chicken dry with paper towels. In a small bowl combine peanut butter and half-and-half. Place cashews in a shallow dish. Thread each chicken strip lengthwise onto a soaked skewer. Brush chicken with peanut butter mixture; roll in cashews to coat. Place in the prepared baking pan. Bake about 12 minutes or until chicken is no longer pink, turning once.
Serve chicken skewers with Asian chili sauce.