Combine all of the ingredients for the beef in a bowl and mix until evenly distributed. Cover and set aside to let marinate for about 10 minutes.
Meanwhile, heat a wok or pan with about 1 inch of oil at medium to medium low heat to 375°F for stir frying. *If making fried vermicelli noodle nest, you can fry it once the oil is heated to 350°F. The noodles will only take a couple seconds to fry, so once the noodles puff up and stop sizzling, they're done. Remove from oil and let them cool and drain on paper towels.*
Once the oil is hot (375°F), stir fry the beef in 3 portions. Place a portion of marinated, slice beef at a time into the oil and gently stir the beef apart to cook evenly. Let the beef cook to about 75% done then remove it from the oil. Let it drain the excess oil in a sieve. Repeat with remaining portions of beef once the oil comes back up to 375°F.*The beef should only take about 15-20 seconds to fry if the beef is about ⅛ inch thick and the oil is hot. Once the beef floats the surface, let it cook for about 10 seconds, and should be 75% cooked.*
Pour out most of the oil, reserving about 1 TBSP, and safely dispose the rest or properly store it for another use. Heat the oil on medium high heat and sauté the vegetables, from heartiest to most tender, until slightly limp. Remove the vegetables and wipe down the pan if necessary.*For example, I would sauté the bell peppers for a few minutes before adding mushrooms, yellow onions, and the whites of the green onions. Save the green tops for later.*
Add the stir fried beef into the pan and sprinkle it with sugar. Sauté the beef over medium high heat until you can smell caramelization, about 2-3 minutes. Add the crushed red peppers and black pepper and sauté for 30 seconds. Add the vegetables back into the pan and sauté briefly to distribute.Drizzle in the Shaoxing cooking wine and cook until the you can no longer smell alcohol. Add soy sauce, water, and green onion tops and sauté for 1-2 minutes.
Serve immediate on a bed of fried vermicelli noodle or with a bowl of steaming white rice. Enjoy!
You can change the cut of beef to whatever you prefer, as long there's minimal amount of sinew. And because this style of cooking uses high heat to cook meat quickly, you can use almost any kind of tougher meat that you would normally use for stewing or long hours of cooking. So cuts like top round, skirt, flank, rump roast, etc. are all good candidates and inexpensive. I do recommend slicing your beef when it's still semi solid so because it's so much easier than when it's defrosted.