Heat a large skillet over LOW heat with 2 tablespoon olive oil and the butter. Add the shallots and garlic. Season with cracked black pepper. Cook until light caramel in color, 15-20 minutes, stirring frequently.
While the shallots cook, bring a large pot of water to a boil. Cook the pasta until al dente. Drain and set aside; keep warm.
In the same pot, heat up about 1 tablespoon of olive oil. Add the drained spaghetti and about 3/4 of the cooked shallots. Saute for about 5 minutes. Stir in the arugula and cook about 45 seconds but no longer than 1 minute.
Plate the pasta. Garnish with the reserved shallots, nuts, fresh parsley and cheese.