Ensure the shrimp are thoroughly cleaned and deveined. In a bowl, mix the shrimp with salt and pepper to taste. Add an egg to the mixture and coat the shrimp with corn starch.
In a frying pan over medium-high heat, add oil. Carefully place the coated shrimp in the hot oil, frying until golden brown on both sides (about 3 minutes).
Remove the shrimp from the pan and let them rest for 5 minutes. Next, return the shrimp to the pan and fry for another minute.
In a separate pan over medium-high heat, add oil. Add the walnuts and coat them with sugar. Pour in water and cook until the sugar is caramelized.
In a large bowl, combine the fried shrimp and caramelized walnuts. In another bowl, mix together mayonnaise, honey, lemon juice, and condensed milk until smooth. Pour the sauce over the shrimp and walnuts, then mix well.