In a small bowl, mix together chili powder, garlic powder, baking powder, paprika, cayenne, and salt.
Place chicken drumsticks in bag and sprinkle seasoning to cover chicken. Place in fridge for at least 3 hours to and up to overnight.
Pre-heat oven to 450 degrees.
Place drumsticks on a wire rack set over a foil-covered baking sheet. Bake at 450 degrees for about 40 minutes, or until chicken reaches internal temperature of 160 degrees.
When chicken is almost done baking baking combine butter, Frank's Red Hot, Sriracha, Soy Sauce, chopped Thai peppers, minced garlic, and lime juice in a medium-sized saucepan over medium-high heat. Bring sauce to a simmer for about 3-4 minutes and stir until thickened.
Place drumsticks in a bowl and pour sauce over the top. Toss to coat.
Garnish with parsley and lime slices