Preheat oven to 425 degrees F. Drizzle enough oil on a sheet pan to coat the bottom.
Make pomegranate glaze. Combine Thai sweet chili sauce with pomegranate molasses, soy sauce, rice vinegar, brown sugar, garlic, and ginger in a medium saute pan. Bring to a simmer over low heat and continue to cook until slightly thickened, about 5 minutes. Remove from heat and set aside.
Season chicken with salt and pepper and toss with cornstarch and water. The cornstarch should cling to the chicken. Place chicken on prepared sheet pan, giving plenty of space in between. Drizzle oil on top so that each chicken piece is coated. Bake for 18-20 minutes or until golden brown, flipping chicken over halfway through.
Remove chicken from oven and toss with pomegranate glaze. Transfer chicken to serving platter and garnish with pomegranate arils, fried basil, and sesame seeds. Serve immediately.