In a large bowl, combine the flour, instant yeast, sugar, and salt until evenly mixed.
Stir the warm water and warm milk together, then gradually pour the mixture into the dry ingredients while mixing.
Add the olive oil and continue mixing until a soft dough forms. Shape it into a smooth ball.
Cover the bowl with lightly oiled plastic wrap or a clean kitchen towel and let the dough rise in a warm place for 1 to 1½ hours, or until doubled in size.
Press the dough gently to remove large air pockets, then divide it into equal portions and roll each piece into a smooth ball.
Lightly flour the work surface and roll each ball into a thin round.
Heat a large skillet over medium-high heat and cook each flatbread for 2–3 minutes per side, or until puffed and lightly golden.
Brush the warm bread with olive oil or melted butter if desired, then finish with chopped parsley and a light sprinkle of chili powder before serving.