Slice each chicken breast in half lengthwise to make 4 filets. Mix the flour, black pepper, and cayenne in a shallow bowl, then coat both sides of the chicken. Melt the butter in a large pan and lightly brown the chicken on both sides. Remove and set aside. In the same pan, add the water, cranberries, brown sugar, nutmeg, and red wine vinegar. Cook over medium heat until the cranberries burst. Return the chicken to the pan with the thyme and cook until the chicken reaches 165°F and the sauce thickens. Season with salt to taste, garnish with fresh thyme, and serve.