Preheat oven to 400 degrees. Spray a 9X13 inch baking dish with nonstick cooking spray. Set aside.
Spice Mix: In a small bowl, mix together chili powder, garlic powder, onion powder, dried Italian seasoning, brown sugar, salt and pepper. Sprinkle both sides of chicken evenly with spice mixture. Gently press spice mixture onto chicken to help it adhere.
Parcook the bacon in batches, on a paper towel lined plate, in a single layer for 1 minute. continue until all bacon has been cooked.
Wrap: Wrap each piece of chicken with 1 slice of bacon covering as much surface of the chicken as possible. Add a 2nd piece of bacon, if needed for coverage.
Secure bacon as needed with toothpicks, placing them on edges so browning is easier. Place wrapped chicken on the prepared baking dish.
Sauce: In a small bowl, whisk together all the ingredients for the sauce until well combined and brown sugar is dissolved. Pour over wrapped chicken pieces coating each one evenly. Brush sauce from baking dish onto chicken to get complete coverage.
Bake for about 6-7 minutes, flip the chicken pieces and cook on the other side for 6-7. Turn on broiler and broil on brown each side 1-2 minutes (watch closely because the sauce can burn very easily!), or until bacon crisps up a bit. Check for doneness by inserting an instant-read thermometer into the thickest portion of the chicken tender. It should register 155°F.