2/3 cup dried black-eyed peas (1/4 lb), picked over
1 medium onion, chopped
1/2 cup loosely packed fresh cilantro leaves
3 drained bottled red malagueta peppers*
1 1/4 teaspoons salt
24 medium shrimp in shell (3/4 lb), peeled, leaving tail and first segment of shell intact, and deveined
2 large eggs, lightly beaten
1 1/2 cups panko** (Japanese bread crumbs) or plain coarse dry bread crumbs
About 6 cups vegetable oil (48 fl oz) Special equipment: a deep-fat thermometer
Accompaniment: lime wedges

Soak peas in water to cover by 2 inches at least 8 hours and up to 12. Drain in a colander.

Put oven rack in middle position and preheat oven to 250F. Line a baking sheet with wax paper.

Pulse peas, onion, cilantro, peppers, and 1 teaspoon salt in a food processor until finely chopped, then transfer to a bowl.

Toss shrimp with remaining 1/4 teaspoon salt. Press a scant tablespoon pea mixture around each shrimp, encasing shrimp in a thin even layer but leaving tail (and shell) exposed, then transfer to baking sheet.

Put eggs and panko in 2 separate shallow bowls. Holding 1 shrimp by the tail, dip coated portion of shrimp first into egg, letting excess drip off, and then into crumbs, returning shrimp to baking sheet. Coat remaining shrimp in same manner.

Line another baking sheet with paper towels. Heat 1 1/4 inches oil in a 5- to 6-quart heavy pot (9 to 10 inches in diameter) until it registers 350F on thermometer. Fry croquettes in 4 batches, turning over once or twice, until deep golden, 2 to 3 minutes per batch, transferring with a slotted spoon to paper-towel-lined baking sheet. Keep fried croquettes warm in oven while frying remainder, returning oil to 350F between batches.

Serve croquettes immediately.

Cooks' note:
Croquettes can be coated with pea mixture, egg, and panko (but not fried) 1 hour ahead and chilled, covered.

*Available at Latino markets and Sendexnet (866-736-3396; sendexnet.com).
**Available at Asian markets, some supermarkets, and Uwajimaya (800-889-1928).