Preheat the oven to 350 degrees F (175 degrees C).

Mix crumbs and butter together in a bowl until combined; press into the bottom and up the sides of a 10-inch pie dish.

Beat sweetened condensed milk, Key lime zest, Key lime juice, egg yolks, and vanilla extract in a bowl with an electric mixer until smooth; pour filling into prepared crust.

Bake in the preheated oven until center of pie is slightly jiggly, about 15 minutes. Allow to cool for 10 minutes; refrigerate.

Mix rhubarb, strawberries, sugar, water, and pectin in a saucepan over medium heat. Boil, stirring often, until rhubarb and berries break down and glaze begins to thicken and resemble jam, about 20 minutes. Remove from heat; cool until lukewarm; glaze will thicken as it cools.