In a large pot, bring salted water to a boil (see notes). Add pasta, and cook according to the product packaging until al dente. Reserve at least ½ cup of pasta water for later use.
In a bowl, combine fresh shrimp with 2 teaspoons of Old Bay Seasoning and lemon juice. Mix well.
In a large skillet over medium-high heat, melt 1 tablespoon of butter and add 1 tablespoon of olive oil. Cook ½ tablespoon of minced garlic just until fragrant.
Add shrimp and cook until it's pink. Remove the shrimp and place it on a plate, then set it aside.
In the same skillet on medium heat, melt 2 tablespoons of butter, and cook shallots until translucent. Add 1½ tablespoons of minced garlic and cook until it's fragrant.
Add white wine and scrape up any crispy bits from the bottom of the pan. Bring to a simmer until the wine is reduced to about a tablespoon.
Add heavy cream, parmesan cheese, and 1 tablespoon of Old Bay seasoning(see notes). Stir and let the cheese melt. Add cooked shrimp and parsley, then stir to combine.
Lower the heat to a low setting, add the cooked pasta, and toss to coat.
Add some of the reserved pasta water to loosen the sauce if needed. Adjust the seasoning with more Old Bay Seasoning, heavy cream, salt, and/or black pepper if necessary. Turn off the heat and serve with extra parmesan cheese and fresh chopped parsley.