Prep the onions: Peel the onions and slice into 1/2-inch thick rounds. Separate into rings. Save the tiny center pieces for another use.
Set up three bowls: In one, mix flour, cornstarch, salt, pepper, garlic powder, and paprika. In the second, whisk eggs with milk. In the third, combine panko and Parmesan.
Dry the rings: Pat the onion rings dry with paper towels. This helps the coating stick and crisp.
Coat step 1: Dredge each ring in the flour mixture, shaking off excess. The flour creates a base layer for the egg to cling to.
Coat step 2: Dip floured rings into the egg mixture, letting extra drip off. You want them coated but not dripping.
Coat step 3: Press the rings into the panko mixture, coating all sides. Press gently so the crumbs adhere well.
Preheat the air fryer: Heat to 400°F (200°C) for 3–5 minutes. A hot basket helps the coating set immediately.
Arrange and spray: Place coated rings in a single layer in the basket. Don’t stack. Lightly mist the tops with cooking spray for even browning.
Air fry the first side: Cook for 6–7 minutes at 400°F, or until lightly golden.
Flip and spray again: Turn rings carefully with tongs, spritz again, and cook another 3–5 minutes until deep golden and crisp. Timing varies by air fryer.
Work in batches: Repeat with remaining rings, keeping finished ones on a wire rack to stay crisp.
Serve hot: Sprinkle with a pinch of salt right after cooking and serve with your favorite dipping sauce.