For the aioli: Mix together the mayonnaise, hot sauce and lime juice. Season with salt and pepper.
For the fritters: Heat a pot of oil to 350 degrees F. Combine the crab, garlic, chives, parsley, bell pepper, mustard, mayonnaise, egg and half the cereal. Season with salt and pepper. Form into walnut-size balls. Crush the remaining cereal in a bag with a rolling pin and roll the balls in the crumbs. Carefully drop the balls into the hot oil and fry until golden, 2 to 4 minutes. Serve with the spicy aioli for dipping.