Combine tomato sauce, salt, oregano, black pepper, red-pepper flakes and thyme in small saucepan. Bring to a simmer over medium-high heat. Reduce to medium; simmer 5 minutes. Remove from heat.
Meanwhile, lightly beat together the eggs and water in a plate. Spread the flour on a piece of waxed paper. Mix bread crumbs, Parmesan, salt and pepper on another piece of waxed paper.
Coat each piece of chicken in flour, dip in egg mixture and then coat with bread crumb mixture. Place on large piece of clean waxed paper.
Place 3/4 cup vegetable shortening in each of two 8-inch cast-iron or other heavy skillets. Heat over medium-high heat until shortening reaches about 360 degrees F. If shortening begins to smoke, reduce heat.
Carefully place about 6 pieces of chicken in each skillet. Cook over medium-high heat for 3 minutes on each side or until cooked through. Move cooked chicken to paper towels to drain. Cook remaining chicken.
Serve chicken with warmed Tomato Sauce, french fries and prepared cole slaw, if desired. Makes 6 servings.