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coke & chicken go really well together, but only after the coke has been boiled back down to syrup/reduction. I've been to cambodian restaurants and coca-cola chicken with hot peppers is their signature dish. Coke syrup+ chilli peppers creates something special, kind of like a better version of the generic sweet chilli sauce.
But dipping chicken into watered down glass of cola is just going to make a soggy mess.