On a lightly floured surface, roll out the pizza dough until 1/4-inch thick. Use a 3-inch round cutter or a large glass to cut out 8 to 10 rounds of dough. Transfer the rounds to a parchment paper-lined baking sheet. Gather up the dough scraps, then reroll and repeat cutting out rounds until you have 16.
Top each round with 2 teaspoons of sauce, 1 tablespoon of cheese, and 1 teaspoon of pepperoni. Working with one dough round at a time, fold in half, then pinch the edges together to seal. When each calzone is sealed, use a fork to crimp the edges closed to further seal.
Heat the airfryer to 375°F. Working in batches of 4, air fry the calzones until golden brown and crisp, about 8 minutes. Serve with additional pizza sauce for dipping, if desired.