We simmered the meat in beef broth rather than high-fat coconut milk; just before serving, however, we added a small amount of coconut milk for flavoring. (Be sure to use unsweetened canned light coconut milk instead of the sweetened type popular in making fruit drinks.)
Trim fat from steak; cut steak into 1/2-inch cubes. Heat oil in a large nonstick skillet over high heat. Add steak; cook 4 minutes or until steak loses its pink color. Drain well, and set aside. Wipe drippings from skillet with a paper towel.
Place skillet coated with cooking spray over medium-high heat until hot. Add shallots and next 4 ingredients (shallots through garlic); sauté 1 minute. Return steak to skillet. Stir in 2 cups broth; bring to a boil. Cover, reduce heat, and simmer 45 minutes. Stir in remaining broth; cover and simmer 45 minutes or until steak is tender. Remove from heat; stir in coconut milk and salt. Serve over rice; sprinkle with cilantro.