In a large mixing bowl, combine the cut chicken thighs with 1 tbsp olive oil, 1 tsp chili powder, 1/2 tsp cumin, 1/2 tsp smoked paprika, 1/4 tsp garlic powder, 1/4 tsp onion powder, pinch of cayenne pepper (if using), and salt and black pepper to taste. Toss until the chicken is evenly coated. Set aside to marinate while you prepare other components.

In a medium saucepan with a lid, combine the rice, 2 cups water (or broth), and 1/2 tsp salt. Bring to a boil, then reduce heat to low, cover, and simmer for 15-18 minutes, or until all water is absorbed. Remove from heat and let stand, covered, for 5 minutes. Fluff with a fork.

While the rice cooks, heat 1 tbsp olive oil in a large skillet over medium-high heat. Add the corn kernels and cook for 5-7 minutes, stirring occasionally, until slightly charred and tender. Remove from heat and transfer the corn to a clean large mixing bowl.

To the warm corn, add mayonnaise, sour cream (or crema), lime juice, 1/4 cup chopped fresh cilantro, 1/2 tsp chili powder, 1/4 tsp garlic powder, and salt and black pepper to taste. Stir well to combine. Gently fold in 1/2 cup crumbled Cotija cheese.

Preheat your air fryer to 375°F (190°C) for 5 minutes. Arrange the marinated chicken pieces in a single layer in the air fryer basket, ensuring not to overcrowd. You may need to cook in batches. Air fry for 12-16 minutes, flipping halfway through, or until the chicken is cooked through and lightly golden brown (internal temperature reaches 165°F/74°C).

Alternatively, pan-fry the chicken: Heat a large skillet over medium-high heat with a little extra olive oil. Cook chicken for 5-7 minutes per side, or until cooked through and nicely browned.

Divide the cooked rice among 4 serving bowls. Top each with a generous portion of the cooked chicken and the prepared street corn mixture. Garnish with extra fresh cilantro, crumbled Cotija cheese, and a lime wedge. Serve immediately with hot sauce, if desired.