Pound and season steaks. Pound the steaks to ⅛ inch thickness or less. (Yours may come already flat and tenderized.) Season the steak with ¾ teaspoon salt and ¼ teaspoon pepper.
Mix ingredients separately. In a wide, shallow bowl, whisk together 2 cups flour, 1 teaspoon salt, ¾ teaspoon pepper, garlic powder, and paprika. In a second bowl, whisk together the buttermilk and eggs.
Preheat oven. Preheat the oven to 200℉. Place a cooling rack over a cookie sheet and put it near the stove.
Coat steaks. Using tongs, dip one steak at a time into the flour mixture, thoroughly coating on both sides. Shake off any additional flour. Next, place the floured steak into the egg mixture, thoroughly coating on both sides and letting the extra egg mixture drip back into the bowl. Finally, return the steak to the flour mixture and coat a second time on both sides, shaking off any additional flour. Place steak in an even layer on a small cookie sheet or large plate and refrigerate for 15 minutes to set the breading.
Fry. Pour cooking oil into a 12-inch heavy-bottomed skillet until it is about an inch high in the skillet (a cast iron skillet is best). Heat to 350℉ over medium-high heat. Using tongs, carefully place two pieces of steak, side by side, into the hot oil and cook steak on each side for 2 minutes. Using tongs or a skimmer for frying, carefully remove the steak from the hot oil and set it on the cooling rack resting on the cookie sheet. Repeat the cooking process with the remaining steak.Place the cookie sheet with the steak in the oven to keep warm while you make the gravy. Carefully set hot oil aside. Using oven mitts, carefully place your hands on the handle and the opposite side of the skillet. Carefully pour the hot oil into a medium-sized pot and set aside. Do not wipe out the pan.
Heat milk. Microwave the milk in a microwave-safe bowl for 2 minutes or heat until just below boiling in a small pot.
Make gravy. Measure ¼ cup of the cooking oil and return it to the pan you used to cook the steak. Warm the oil over medium heat and add the remaining ¼ cup of flour. Whisk together the flour and oil and let it simmer for about 2 minutes while stirring. Gradually, whisk in 2 ½ cups of the warm milk and let the gravy come to a boil. Reduce the heat and whisk in ½ teaspoon salt, ½ teaspoon pepper, bouillon, and garlic powder. Whisk frequently until the gravy is thickened, adding more milk if necessary to get the desired thickness of the gravy. The gravy will thicken as it sits.
Serve. Serve the gravy immediately with the chicken fried steak. Once plated, sprinkle the gravy with additional pepper if desired.