Whisk together all purpose and rice flour and set aside.
Heat up a skillet over medium heat and add salt and black pepper. Stirring constantly, roast for approximately 3 minutes.
Transfer roasted salt and black pepper to a small bowl and add sugar and msg. Mix together and set aside.
Dip the slightly wet squid into the flour mixture and coat evenly with the flour. Shake the excess flour and lay them on a tray.
Heat up an inch of oil in a frying pan to 400ºF.
Working in batches, drop the squid into the oil and fry until lightly golden, about 3 minutes. Transfer the fried squid onto a resting rack and immediately season with the seasoning mix.
Heat up a skillet and coat the bottom with oil. You can use the oil you fried the squid with. Add the onions and bell peppers in and without stirring, let it char. Once the onion starts to blister, add in the garlic and spicy peppers. Season with the seasoning mix and stir-fry everything together. Remove skillet from heat.
In a small bowl, combine a few spoonfuls of the seasoning mix with the lime juice.
Transfer a bed of the peppers onto a serving plate. Top with a layer of fried squid, more peppers, and end with the fried squid. Serve immediately with the lime dipping sauce.