Combine sauce ingredients in medium bowl and blend well. Set aside.
Heat wok or very large skillet. Add 2 tablespoons sesame oil and heat until very hot. Add chili peppers and stir-fry until darkened. Add green onions and garlic; stir-fry 1 minute. Add carrots; stir-fry 4 minutes. Add broccoli and bell pepper; stir-fry 1 minute. Add cabbage and stir-fry 1 minute. Add baby corn and water chestnuts; stir-fry 30 seconds.
Stir sauce; add to vegetables and mix well. Cover wok or very large skillet and cook until vegetables are crisp-tender. Remove chili peppers. Serve over rice, if desired.