Between pieces of plastic wrap or waxed paper, place each chicken breast smooth side down; gently pound with flat side of meat mallet or rolling pin until about 1/4 inch thick.
In shallow dish, stir cereal, Bisquick mix, Italian seasoning and garlic powder. In another shallow dish, place egg product. Dip chicken in egg product, then coat with cereal mixture.
In 10-inch nonstick skillet, heat 1 1/2 teaspoons of the oil over medium-low heat. Add chicken; cook 4 minutes. Turn chicken; add remaining 1 1/2 teaspoons oil to skillet. Cook 5 to 6 minutes longer or until chicken is no longer pink in center.