Whisk together pepper jelly and canola oil. Transfer ½ of the mixture to a lidded container and refrigerate for later.
Liberally salt and pepper the chicken, and place it in a zipper-style plastic bag. Pour the remaining half of the pepper jelly mixture on top, and knead the chicken and jelly together to evenly coat each piece of chicken. Place the chicken in the fridge 1-24 hours.
Remove the chicken and the dish of reserved sauce from the fridge 15 minutes before cooking.
Heat oven to 425°F and adjust oven rack to middle position. Line a large, rimmed baking sheet with foil and spray a metal baking rack with nonstick spray. Set the rack in/over the baking sheet.
Use tongs to transfer the chicken pieces to the prepared rack/baking sheet (shaking off excess sauce as you work). Leave space between chicken pieces to facilitate even baking.
Bake at 425°F for 30 minutes then remove the chicken from the oven. Divide the reserved Hot Pepper Jelly Sauce into two bowls. One half will be used for brush onto the chicken and the other half will be used to serve with the cooked chicken.
Brush each chicken piece (all sides) with ½ of the reserved hot jelly sauce and flip each piece over.
Reduce heat to 400°F and bake an additional 20-25 minutes or until chicken is cooked through and sauce is caramelized.
About 5 minutes before chicken is done cooking, heat the unused, reserved sauce in a small saucepan until hot.
Garnish with chopped, fresh cilantro, and serve with heated Pepper Jelly Sauce.