Packed with red chili pepper, garlic, lemongrass, galangal (Thai ginger) and spices, Thai red curry paste is the secret to the bold, vibrant flavor of these racks of lamb, while a crust of crushed peanuts gives them wonderful texture. The accompanying salad of snap and snow peas rounds out this delicious spring meal.
Preheat the oven to 425 degrees F. Set a wire rack inside a rimmed baking sheet. Cut the racks of lamb in half crosswise to make 4 mini racks, then season the lamb with salt and pepper.
Heat 1 tablespoon of the oil in a large skillet over medium-high heat until shimmering. Add the lamb, fat side down, and cook until browned, about 5 minutes. Turn the lamb fat side up and cook for 2 minutes longer. Transfer the lamb to the rack over the baking sheet.
Meanwhile, in a small bowl, mix the curry paste with 2 tablespoons of the lime juice. Place half the mixture into another small bowl. In a mini food processor, pulse the peanuts until finely ground; transfer to a shallow dish.
Brush the lamb racks with half of the red curry sauce, then coat them in the ground peanuts. Set the lamb fat side up on the baking rack. Roast in the oven until an instant-read thermometer inserted in the center of the meat registers 125 degrees F for medium-rare, 20 to 25 minutes. Transfer the lamb to a cutting board to rest.
Meanwhile, thinly slice the shallot and transfer it to a small bowl of ice water. Let stand for 5 minutes, then drain.
Wipe out the skillet the lamb cooked in and heat the remaining 1 tablespoon of canola oil in it over high heat. Add the snap peas to the skillet and spread them in an even layer. Cook undisturbed until blistered on the bottom, about 3 minutes; transfer to a serving bowl. Add the snow peas to the skillet and cook over high heat, stirring, until just warm, about 2 minutes; transfer to the serving bowl. Add the pea shoots, drained shallots and the remaining 2 tablespoons of lime juice to the bowl and toss well. Fold in the basil and season with salt and pepper.
Carve the lamb by cutting between the bones. Transfer the ribs to a platter. Spoon any peanuts and juices from the cutting board on top. Serve with the warm pea salad, passing the remaining red curry sauce at the table.