Combine the mayonnaise and 1 tablespoon of the TABASCO® SWEET & Spicy Sauce in a small bowl and mix well; refrigerate dip until ready to serve.
Place flour in a small bowl. Place bread crumbs in another small bowl. Beat egg with remaining 2 tablespoons TABASCO® SWEET & Spicy Sauce in a third small bowl and set aside. Dredge oysters in flour, shake off excess, and dip in egg mixture; shake off excess egg and completely coat oysters in bread crumbs. Place on a plate and refrigerate while oil heats.
Heat oil to 325°F in a heavy skillet over medium-high heat. Add breaded oysters and fry until golden brown, about 1 to 2 minutes. Drain on paper towels, sprinkle with coarse salt, and serve immediately with dip.
Makes 4 servings.