Heat oven to 350 degrees F. Line a baking sheet with nonstick foil.
In a small bowl, mix together bread crumbs and milk. Let stand until bread crumbs absorb the milk.
In a large bowl, add ground beef, bread crumb mixture, eggs, minced onion, cumin, oregano, garlic salt and cayenne pepper. Mix with clean hands until combined. Form into 30 meatballs, about 1 inch in diameter, and place on prepared baking sheet.
Bake meatballs at 350 degrees F for 20 minutes.
In a large skillet, mix together beef broth and chili sauce. Add meatballs and simmer, covered, over medium heat for 10 minutes. Stir occasionally. Remove cover and continue to cook for 5 minutes. Serve warm.