Slice your onions, and bring a quart of oil to heat on medium-high. Meanwhile, prepare your coating.
Mix the first bowl ingredients together.
Mix the second bowl ingredients together.
Place your panko crumbs or bread crumbs in a third bowl.
Doing this for one onion ring at a time, coat each onion ring in the egg mixture, then the flour mixture, then the egg mixture again, and finally the panko crumbs.
Repeat for all.
Fry on medium high heat until golden. If oil is too high it will burn and roast into an ugly brown. The frying part takes patience but totally worth it. Also it cannot be too low where it goes soggy. You will figure out the heat that works for you by the time you're done frying your first or second.
Drain excess oil in a sieve - do not drain on paper towels so it does not lose its crunch.
Serve with choice of dipping sauce.