Slice the steak into thin, bite-size strips. Beat the egg and toss the steak in it to coat lightly. Dust with cornstarch.
Heat the vegetable oil in a wok or heavy skillet over high heat until it just starts to smoke around the edges. Fry the beef for about two minutes, until browned. Remove beef from the oil with a slotted spoon. Turn the heat up all the way until the oil it gets really hot. Return the beef for about 30 seconds. Remove and keep warm.
Lower the heat to medium and pour out most of the oil from the wok into a metal container. Do not wipe the skillet; you want a significant oil film in the bottom. Add the red peppers, orange peel, garlic, ginger, soy sauce, sugar, dissolved cornstarch, sesame oil, and stock. Cook, stirring every few seconds, until a sauce consistency is reached. Add the green onions and cook for another ten seconds or so.
Return the beef to the wok and continue to cook until the beef is fully cooked and coated with the sauce. Spoon onto a serving plate and serve with steamed rice on the side.