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Cut round steak up into portions, removing all fat, following natural fat lines in the steak.
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Cover each piece with plastic wrap and pound flat to 1/4-inch thick.
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Cut steak into 4x1-inch strips (or into individual portion size should you desire).
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Put half the flour on two plates and season one portion with 3 tsp each of salt, black pepper, and cayenne pepper.
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Mix 3 eggs and 1 cup of milk and hot sauce in a shallow bowl.
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Cover each piece of steak with unseasoned flour, dredge in egg/milk mixture, then cover with seasoned flour.
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Fry strips in batches in a deep fryer, or pan fry portion size pieces in a frying pan with 1/2 inch of oil until golden brown.
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Fry the bacon until crisp and remove (save for later) leaving 2-3 tbs spoons of grease in the pan.
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Mix the half-and-half, heavy cream and 2-3 tbs of flour in a bowl--amount of flour should equal the amount of grease.
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Sauté the onion in reserved bacon grease until opaque, then add cream/flour mixture.
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Add black pepper, salt, cayenne, and Worcestershire sauce.
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Stir constantly until thick and bubbly.
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Chop reserved bacon and add to sauce/gravy.
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Serve strips on a platter and provide small cups or bowls for dipping sauce, or serve as individual steaks top with gravy.