Freeze the mozzarella slices for at least 1 hour.
On a plate, combine the flour, salt, paprika, and cayenne.
In a bowl, mix together the eggs and hot sauce.
Place panko on a separate plate.
Dip the mozzarella in the flour, then eggs, then panko.
Heat oil to 350 degrees. Fry about 1 minute per side, or until golden.
To make the chili oil, combine the oil, cayenne, brown sugar, paprika, chili powder, garlic powder, and salt in a saucepan. Heat for just a few minutes to combine and melt the sugar.
Brush on top of the hot mozzarella sticks. Serve with ranch.