In a large pot, cook the pasta according to the directions. Reserve 1/2 cup of the pasta water and discard the rest. Transfer the pasta to a medium bowl and toss with 1 tablespoon of olive oil. Set aside.
In the same large pot, add the butter and remaining 1 tablespoons of olive oil over medium-low heat.
Once melted, add the garlic and cook for 1-1 1/2 minutes or until lightly golden and aromatic, constantly stirring to prevent burning.
Add in the shrimp. Cook on each side for 30 seconds or until pink.
Stir in the lemon pepper, red pepper, parsley, and chopped basil. Cook for one more minute.
Toss in the cooked pasta until well coated. If the pasta appears dry, add in 1/4 cup water at a time until it becomes creamy.
Season with salt and pepper.
Garnish with parmesan and serve.