For easier slicing, partially freeze meat. Trim fat from meat. Thinly slice meat across the grain into bite-size strips . Set aside.
For sauce, in a small bowl stir together sherry, soy sauce, water, hoisin sauce, ginger, cornstarch, sugar, garlic, and crushed red pepper (if using); set aside.
In a wok or large skillet heat oil over medium-high heat (add more oil if necessary during cooking). Add carrot; cook and stir in hot oil for 2 minutes. Add baby corn and sweet pepper. Cook and stir for 1 to 2 minutes or until vegetables are crisp-tender. Remove from wok.
Add meat to wok. Cook and stir for 2 to 3 minutes or until meat is slightly pink in center. Push meat from center of wok.
Stir sauce. Add sauce to center of wok. Cook and stir until thickened and bubbly. Return cooked vegetables to wok. Stir all ingredients together to coat. Cook and stir for 1 to 2 minutes more or until heated through. Serve immediately with hot cooked rice. If desired, sprinkle with sliced green onions.