Preheat oven to 400°F and spray a large 11 x 8-inch baking dish with non-stick cooking spray.
Add the chicken breasts to your baking dish and drizzle with olive oil. Sprinkle both sides with salt, pepper, and garlic powder, to season.
Prepare your homemade buffalo sauce. In a small mixing bowl whisk together the Frank's Red Hot Sauce, melted butter, honey, lime juice, minced garlic, and onion powder. Season with additional salt, pepper, or honey, to taste.
Pour your prepared buffalo sauce over the top of the chicken breasts. Thoroughly coat each chicken breast in sauce (I like to use kitchen tongs to rotate each chicken breast 1-2 times).
Tent your baking dish with foil and transfer it to the oven. Bake, covered, for 20 minutes. Then uncover and continue to bake for an additional 5-15 minutes, or until internal temperature registers 160°F as measured with a digital meat thermometer.
Remove from the oven and allow your chicken to rest for 5 minutes before serving.