Is it reasonable to expect "spiciness" to fry off?
Capsaicin, the molecules that make chilis hot, is soluble in oil.  So when you're cooking something spicy in oil - you're most definitely taking away a lot of the heat into the oil.  This is assuming you're going to fry the turkey.  If you're not...good luck ;)

So yes, the recipe isn't that insane, it should be reduced in heat.  Like soegaard says though, test on a piece of chicken first and then fry that piece.