Put the milk into a shallow bowl and the flours together into another with lots of seasoning. Fill a pan no more than 1/3 full with vegetable oil and heat to 180C or until a cube of bread browns in 30 seconds.
In batches, tip the squid into the milk, shaking off excess liquid before tipping into the seasoned flour and tossing well until fully coated. Again in batches, carefully lower the squid into the oil and cook for 1-2 minutes or until really crisp and pale golden. Drain onto kitchen paper and season with sea salt flakes.
Put the squid into a bowl and stir through the chillies, spring onions, peanuts, and coriander, and serve with lime wedges for squeezing over.
