Heat the oil in a deep fryer to 350°F.
To make the sauce, place the rice wine vinegar, sugar, fish sauce, sherry, garlic, chili flakes and Sriracha in a sauce or pot and bring to a rolling boil. Reduce the heat to medium and reduce by half. Lower the heat to simmer and add the cornstarch-water mixture. Stir until the sauce thickens, making about 1/2 cup sauce. Remove from the heat and let cool. Once the sauce is cool, pour into a bowl and mix in the mayonnaise, lime zest and juice. Set aside.
In a bowl, combine the eggs and milk. In another shallow bowl, combine the rice flour, cornstarch and breadcrumbs. Bread the shrimp by first coating with the egg mixture then the breadcrumb mixture, then back again into the egg and finish in the breadcrumbs.
Arrange the coated shrimp on a plate and pop them into the fridge for at least 10-15 minutes to help the breading stick while frying.
When the oil is hot, fry the shrimp for 2-3 minutes, or until golden brown. Drain on a rack or paper towels.
When all the shrimp have been fried, drop into a large bowl. Spoon the sauce over the shrimp and stir gently to coat. Serve with lime wedges alongside.