Begin by heating the vegetable oil in a large skillet or a wok over medium-high heat until shimmering.
Add the minced garlic and chopped bird's eye chilies to the hot oil. Sauté for about 30 seconds, stirring constantly, until fragrant and the garlic turns golden but does not burn.
Increase the heat to high and add the thinly sliced beef to the pan, spreading it out in a single layer. Stir-fry for 2-3 minutes until the beef is browned on the outside but still slightly undercooked in the center.
Next, add the sliced onion and bell pepper to the skillet. Continue to stir-fry for an additional 2-3 minutes, or until the vegetables are tender-crisp and the beef has cooked through completely.
In a small bowl, combine the soy sauce, oyster sauce, fish sauce, and brown sugar. Mix well until the sugar is dissolved, then pour this sauce over the stir-fry. Toss all the contents together vigorously to ensure an even coating of sauce over the beef and vegetables.
Remove the skillet from the heat, and gently fold in the fresh Thai basil leaves. Toss just until the basil wilts slightly, releasing its fragrant aroma.
Serve your spicy Thai basil beef immediately over a bed of cooked jasmine rice. Garnish with fresh lime wedges and, if desired, a sprinkle of chopped peanuts for added crunch and flavor.
Notes
Adjust the number of chilies based on your heat preference.