Combine mayonnaise, chili-garlic sauce, sugar, cayenne pepper, and paprika in a small bowl to make the chili sauce.

Whisk the egg and milk together in a shallow bowl.

In a separate bowl, mix salt, baking soda, black pepper, onion powder, garlic powder, and cayenne pepper.

Coat each shrimp with flour.

Dip the floured shrimp into the egg and milk mixture, then back into the flour to fully coat.

Arrange the breaded shrimp on a plate and refrigerate for at least 10 minutes to help the breading adhere.

Heat vegetable oil in a deep fryer or large pot to 350°F (175°C).

Fry 8 to 10 shrimp at a time for 3 to 4 minutes, or until golden brown.

Remove the fried shrimp and place them in a large bowl.

Spoon about 1/4 cup of the prepared chili sauce over the shrimp and gently stir to coat.

Serve immediately with the remaining chili sauce on the side.