Peel and de-vein the shrimp if you have not purchased them already done. You may leave on the shrimp tails on for presentation. Set aside.
Combine the 4 tablespoons butter and ¼ cup hot sauce in a small pot and heat on low until melted and combined. Keep warm.
In a small shallow bowl, whisk together the 2 large eggs and ¼ cup water until thoroughly combined.
In a separate shallow bowl, combine the 1 ½ cups flour and 1 tablespoon seasoned salt.
While working with one shrimp at a time, dip them by the tail into the egg mixture, shake off the excess, and gently roll in the flour mixture. Be sure to coat all of the shrimp this way before leaving them in the flour bowl as they are coated.
Place the flour bowl with the shrimp inside it in the refrigerator to rest while you heat the 2 cups oil in a deep pot or cast iron skillet. The oil should be 1½ – 2 inches deep and heated to at least 375 degrees F.
Toss shrimp in flour once more to be sure all are thoroughly coated and carefully drop each into hot oil, frying about 6-8 shrimp at a time.
Fry the shrimp until they become golden brown, about 3 minutes. Remove carefully using a slotted spoon and let them drain on a cooling rack or paper towel.
Add the fried shrimp to a large bowl and drizzle with the warm buffalo sauce from the saucepan that you have been keeping warm. Toss to fully combine and coat the shrimp in the sauce.
Serve the buffalo shrimp right away while still warm with a lemon wedge and your favorite dressing for dipping. Enjoy!