To make the meatballs, combine all ingredients in a large mixing bowl, and incorporate thoroughly. Cover and refrigerate for at least 20 minutes, but up to an hour. Form chicken mixture into small 1-inch-in-diameter balls.
Heat a large, wide skillet over medium heat, and add 2-3 tablespoons of vegetable oil. Add the meatballs in batches of about 20, flipping every few minutes, and cooking each batch for about 8-10 minutes total, or until the meat is no longer pink in the middle.
To make the peanut satay sauce, combine all ingredients in a medium saucepan, and simmer for 15 minutes.