Cut sausage into 1/2-inch slices. Melt butter in a 5 to 6-quart pan over medium-high heat. Add sausage, onion, red bell pepper, green bell pepper and garlic; cook, stirring occasionally, 5 minutes or until vegetables are soft and sausage is lightly browned.
Stir in tomatoes, pepper sauce, black pepper, crushed red pepper flakes and salt to taste. Bring to a boil; add shrimp. Cook 3 minutes or until shrimp are cooked and opaque in center.
Gently stir in hot rice and cook 3-5 minutes or until heated through.