In a large bowl, whisk together mayo, crushed red pepper flakes, garlic powder, salt, honey, and sweetened condensed milk until smooth.

In a saucepan, combine sugar and 1 cup of water, bringing it to a boil. Add walnuts and cook for 2 minutes, then drain and cool.

Rinse shrimp under cold water, shake off excess, place in a zip-lock bag with flour, seal, and shake to coat.

Whisk eggs and water for egg wash. Dip each shrimp into egg wash, then coat with panko breadcrumbs.

Heat oil in a skillet over medium heat. Fry shrimp for 4-5 minutes until golden brown.

Transfer fried shrimp to the bowl with the prepared sauce and toss gently. Top with candied walnuts.