Heat 3 tablespoons oil in a large skillet over medium heat. Add chopped shallots and sliced garlic; cook, stirring often, until softened and translucent, about 2 minutes. Add 1 teaspoon Italian seasoning and ¼ teaspoon crushed red pepper; cook and stir until the spices are toasted and fragrant, about 1 minute.
Stir in ⅓ cup cream and ⅓ cup broth; bring to a simmer over medium-high heat. Stir in rinsed beans and return to a simmer. Simmer, stirring occasionally, until the beans are warmed through and the sauce is thick enough that a spoon leaves a trail when dragged through it, 3 to 4 minutes.
Remove from heat and stir in ⅓ cup pesto, ¼ cup basil and 1 tablespoon lemon juice. Let cool slightly for 3 minutes, then gradually stir in ¾ cup Parmesan until melted. Garnish with additional basil, if desired. Serve with toasted baguette.
