Fresh bird's eye chilies

You could make homemade chili pepper flakes.. Just roast them at about 170 for 6 hours (weekend project!) to dry them out then throw them in the food processor.
Or you could add some to a bottle of vodka and let them infuse for a couple of days. Great for Bloody Mary's. Just enough to make a layer in the bottom of the bottle. I tried it and filled it up a little over an inch. Way too hot! : ) but was ok if we cut it with regular vodka.

You could also do a fermented chili sauce. Weigh your stemmed chilis and add 2% of the weight of them in sea salt. Combine them in a jar, cover with a sweet white wine (Gewurstraminer or Riesling) by 1/2 inch or so, and let them sit on your counter, stirring daily, until the mixture bubbles and froths. Keep the jar covered with a cloth and rubber band (no lid--the pressure that builds up could cause the jar to explode) until it stops bubbling. Then, strain the mixture and add seasonings to taste (you may want to add vinegar, sugar, spices, etc.).

slice them up and preserve them in rice vinegar, its a very popular condiment in Indian chinese food

Not really. Based on a description from an old Food Network show, I just stemmed the chilis, put them in a jar, covered them in white vinegar, and let it infuse for a couple of weeks on the counter. It's a nice condiment that I used for dressings (for when I was a spicy kick), sprinkled onto arroz con pollo (any rice dish really), on roasted chicken, etc.

You can always freeze them, though I would use them within 6 months.

You can put them in some vinegar and make a "hot sauce" condiment similar to what they use in Puerto Rico, called pique.