Whisk together the canola oil, lime juice, brown sugar, vinegar, red pepper flakes, lime zest, garlic, ginger, basil and salt in a bowl. Put the shrimp in a large zip-top plastic bag and pour in the marinade. Refrigerate 20 minutes.
Meanwhile, make the sauce: Whisk the sweet chili sauce, peach preserves and mustard in a bowl.
Preheat a grill to medium high. Oil the grill rack. Thread the shrimp and lime wedges onto skewers. Grill 1 1/2 minutes on each side. Serve with the sauce.