Heat olive oil in a large skillet over medium-high heat. Cook and stir shallot and garlic in hot oil until tender, about 5 minutes. Add red pepper flakes; cook and stir to release flavor, about 1 minute. Stir fire-roasted tomatoes and tomato paste into the shallot mixture. Thin the sauce by stirring white wine into the mixture; cook and stir until sauce becomes thick and bubbly, 4 to 5 minutes.
Reduce heat to medium-low. Add shrimp to the tomato mixture; cook and stir until shrimp are pink and cooked through, about 5 minutes. Season with parsley, basil, and black pepper.