Preheat oven to 375 degrees F. Grease a 15x10x1-inch baking pan; set aside. In a shallow dish combine egg and milk. For coating, in a second shallow dish combine crushed cereals, basil, salt, and pepper. Dip chicken pieces, one at a time, into egg mixture; dip into cereal mixture, turning to coat.
Arrange chicken in the prepared baking pan, making sure the pieces do not touch. Sprinkle chicken pieces with any remaining cereal mixture so they are generously coated.
Bake for 22 to 25 minutes or until chicken is no longer pink (170 degrees F). Do not turn chicken pieces while baking. Serve with honey.