Bring a large saucepan of water to a boil. Add asparagus and peas; cook for 3 minutes or until crisp-tender. Drain and rinse under cold water.
Heat a large, nonstick skillet over medium high heat. Add 2 teaspoons olive oil to the pan; swirl to coat. Add zucchini and squash to the pan; cook for 7 minutes or until lightly browned, stirring occasionally. Set aside.
Bring vegetable broth to a simmer in a medium saucepan (do not boil). Keep warm over low heat.
Heat the remaining 1 tablespoon olive oil in a Dutch oven over medium heat. Add shallots, and cook for 3 minutes or until tender,. Stir in rice, and cook for 1 minute, stirring constantly. Stir in wine; cook until the liquid is absorbed (about 30 seconds), stirring constantly. Stir in 1 cup broth; cook 5 minutes or until liquid is nearly absorbed, stirring constantly. Reserve 1/4 cup broth. Add the remaining broth, 1/2 cup at a time, stirring constantly until each portion of the broth is absorbed before adding the next (about 22 minutes total). Stir in the vegetables; cook 1 minute or until thoroughly heated. Remove from heat; stir in reserved 1/4 cup broth and the remaining ingredients.