Heat oil in heavy large skillet over medium heat. Add shallots and crushed red pepper; saute until shallots are translucent, about 5 minutes. Add vodka and ignite with long match. Simmer until flames subside, shaking pan occasionally, about 2 minutes. Increase heat to high, add cream and bou until mixture thickens, about 3 minutes. Add tomato sauce; boil until sauce thickens and coats back of spoon, about 2 minutes. (Can be made 1 day ahead; chill.) Cook pasta in pot of boiling salted water until tender but still firm to bite.

Drain; reserve 1/4 C cooking liquid. Bring sauce to simmer. Add pasta, prosciutto, 1/3 C cheese, parsley and basil to skillet and toss to coat. Add reserved pasta cooking liquid if mixture is too dry. Season to taste with pepper. Transfer to large bowl. Sprinkle with remaining 1/3 C cheese and serve.