Preheat oven to 300 degrees.

Gently crush 1 of the lemongrass stalks with a rolling pin or pestle (from mortar and pestle) to break it open. Set aside.

Place the remaining 7 lemongrass stalks on a cutting board and cut off and discard the rounded end of each stalk. Remove the white, outer layer of the stalks and discard so that what remains is only the section of the stalk that is light purple in the center (see picture above). Thinly slice the lemongrass and break the pieces apart with your fingers. Spread the lemongrass pieces and basil leaves on a cookie sheet lined with parchment paper, insuring that the basil leaves do not overlap. Bake until basil is shriveled and crisp, 20-25 minutes, checking occasionally to insure that it does not burn. (If basil leaves are shriveled but are soft to the touch, they need to continue baking a few minutes longer.)

While the basil and lemongrass bake, heat oil over medium heat in a large pan. Add the crushed stalk of lemongrass and red pepper flakes to the oil, stirring until lemongrass is fragrant, about 1 minute. Add cashews and peanuts to the oil, tossing to coat. Continue cooking, stirring frequently, until the nuts become golden brown, about 8-10 minutes. Remove from heat and add salt, tossing to combine. Remove and discard lemongrass stalk.

When lemongrass and basil are crisp, remove from the oven and add to the nut mixture. Stir all of the ingredients together. Serve immediately or store in a cool place for up to 1 week.

Note: I recommend storing this mix in the refrigerator if you will not use it within 24 hours. Because the oil is flavored with fresh ingredients it will be prone to spoil if left at room temperature for more than a day.