Add all ingredients for sriracha mayo to small bowl. Whisk well until thoroughly combined, then cover bowl and refrigerate until ready to serve.
In shallow bowl, mix together all-purpose flour and Old Bay seasoning until ingredients are well-distributed. Set aside.
Crack both eggs into second shallow bowl. Whisk vigorously until eggs are fully combined, not streaky. Set aside.
Add panko breadcrumbs to third shallow bowl. Set aside.
Preheat air fryer to 400° Fahrenheit. Pat shrimp completely dry with paper towels.
One by one, lightly coat shrimp in seasoned flour mixture. Shake any excess flour mixture back into bowl, then dip floured shrimp into beaten eggs. Coat both sides of shrimp and allow any excess egg to drip back into bowl, then transfer shrimp to breadcrumbs. Coat both sides of shrimp well, gently pressing breadcrumbs into shrimp to be sure breadcrumbs stick. Transfer shrimp to plate and set aside. Repeat until all shrimp have been breaded.
Spray air fryer basket with cooking spray. Place breaded shrimp in basket, being careful not to overlap shrimp or overcrowd basket. Lightly spray tops of shrimp with cooking spray.
Place basket in air fryer and cook 6 minutes. Check shrimp after 6 minutes. Cook another 1 to 2 minutes if needed until shrimp are golden and cooked through.
Remove shrimp from air fryer. Repeat process with any remaining shrimp until all shrimp have been fried, then serve immediately with sriracha mayo.