Bring a large pot of salted water to a boil. Add penne and cook as the label directs. Reserve 1/2 c. cooking water, then drain the pasta.
Meanwhile, melt the butter and olive oil in a large skillet over medium heat. Add the shallots and cook, stirring occasionally, until slightly softened, about 3 minutes. Add the garlic and red pepper flakes and cook, stirring, 30 seconds. Add prosciutto and cook 3-4 minutes. Remove from the heat and stir in the vodka, crushed tomatoes and salt to taste. Return the skillet to medium heat and simmer, stirring often, until the alcohol cooks off, about 7 minutes. Stir in the heavy cream and cook until the sauce thickens slightly, about 3 minutes. Stir in the parmesan and basil.
Add the pasta to the sauce and toss to combine, adding some of the reserved cooking water to loosen, if needed. Season with salt. Serve, topped with more parmesan and basil.