Stir together 1/2 cup flour, cornmeal, 1/2 teaspoon salt, 1/2 teaspoon pepper, red pepper, and garlic powder in a shallow dish.
Cut steak into 4 pieces, and dredge in flour mixture.
Heat bacon drippings in a large cast-iron skillet until hot. Add steak, and cook 3 to 5 minutes or until browned, turning once. Cover, reduce heat, and cook 15 minutes. Uncover and cook 10 minutes or until crisp, turning once. Drain on paper towels, reserving drippings in skillet; transfer steak to a serving platter.
Heat reserved drippings in skillet; whisk in 2 tablespoons flour, and cook, whisking constantly, until browned. Gradually whisk in milk, and cook, whisking constantly, 3 to 5 minutes or until thickened. Stir in remaining 1/4 teaspoon salt and remaining 1/2 teaspoon pepper. Serve gravy with steak.