Preheat the oven to 400 degrees. Oil a baking sheet. In a food processor, grind the bread into fine crumbs.
In a shallow bowl, combine the breadcrumbs, Parmesan, thyme, and 1/4 teaspoon pepper. In a second large bowl, combine the buttermilk, Tabasco, 3/4 teaspoon salt, and remaining 1/2 teaspoon pepper. Add the chicken, turning to coat.
Remove one piece of chicken from buttermilk mixture, shaking off excess liquid. Drop into the breadcrumb mixture and turn to coat. Place on prepared baking sheet. Repeat with remaining chicken.
Bake for 40 minutes, rotating pans halfway through cooking.