Thai Chili Beef (Neua Pad Prik)

1. Mix all the ingredients for the sauce (first 5 ingredients); set aside.
2. Slice the steak crosswise on the bias, and then cut into thin strips about ¼ inch thick.
3. Mix the marinade ingredients (ingredients 6-9) and add to the beef strips. Let the meat marinate in the refrigerator for at least 10 minutes (up to an hour).
4. Do all the chopping/mincing: mince the garlic; remove the seeds from the hot peppers and slice them into matchsticks; quarter the shallots lengthwise and separate the layers; roughly chop the cilantro (but leave the basil leaves whole); cut the lime into wedges; lightly chop the peanuts.
5. Mix the minced garlic with 1 teaspoon of the oil and set aside.
6. Heat 2 teaspoons of oil in a 12” cast iron skillet over high heat. When the oil starts shimmering, add 1/3 of the beef strips. Spread them out in the pan and don’t touch them for 2 minutes. After 2 minutes are up, they should be very nicely seared on one side. Stir fry for 30 seconds, moving them around the pan, until cooked through. Remove the first batch of beef to a bowl, and cook the remaining 2 batches in the same way. Set the beef aside.
7. Add 2 teaspoons oil to the skillet, and when shimmering, add the shallot and peppers. Cook for about 3 minutes, stirring frequently, until softened.
8. Clear a space in the middle of the skillet and add the garlic/oil mixture. Press the garlic into the pan with a spatula for about 15 seconds. Then mix it into the veggies.
9. Add the sauce, increase the heat to high, and let it reduce and thicken for about 30 seconds. Stir in the beef with any accumulated juices, stirring well to get it coated in the sauce.
10. Stir in half the cilantro and basil and take the skillet off the heat. Stir everything to combine.
11. Serve over white rice and garnish with the remaining cilantro and basil, peanuts, and lime wedges.