1 2- to 21/2-pound beef flank steak, trimmed
FOR SAUCE: Melt butter in heavy medium saucepan over medium-high heat. Add onion and garlic and saute until golden, about 10 minutes. Add flour and stir until golden brown, about 4 minutes. Add 2 tablespoons pilsner and stir until liquid evaporates, about 30 seconds. Gradually mix in beef stock and chicken stock, soy sauce, thyme, mustard and hot pepper sauce. Boil mixture until reduced to sauce consistency, stirring occasionally, about 10 minutes. Strain. Stir in remaining 1 tablespoon pilsner. Season to taste with salt and pepper. (Can be prepared 1 day ahead. Cover and refrigerate. Bring to simmer before using.)
FOR STEAK: Mix 2 teaspoons vegetable oil, peppercorns, salt, mustard, thyme and paprika in small bowl. Spread paste over both sides of steak. Heat remaining 1 teaspoon vegetable oil in heavy large nonstick skillet over medium-high heat. Cook steak in skillet to desired doneness, about 4 minutes per side for medium-rare. Transfer steak to work surface and let stand 5 minutes.Slice steak on diagonal across grain into thin strips. Serve with sauce.