In a large bowl, combine the tequila, lime juice, hot sauce and vegetable or canola oil. Add the chicken to the mixture and marinate for at least 30 minutes or up to overnight.
When ready to cook, preheat oven to 400ºF or grill to medium.
Shake the excess marinade off the meat and season the pieces with salt and pepper. Grill or roast the meat until cooked through, about 40 minutes in the oven or 8 minutes per side on the grill.