Add the stock (6 cups) to a medium saucepan. Bring to a boil over high heat. Once at a boil reduce heat to low.
Heat a large sauté pan over medium heat and add the olive oil (2 Tbsp). Once the oil is shimmering, add the shallots (2 large). Season lightly with kosher salt. Cook, stirring occasionally, until the shallots are translucent, 2 to 3 minutes.
Add the rice (1 ½ cups) and cook until it’s slightly translucent in color and starts to sound like glass as it hits the side of the pan, about 2 minutes. Add the wine (½ cup) and allow it to reduce until almost completely evaporated, another minute.
Using a ladle, add about ½ cup of hot stock to your risotto and stir until almost evaporated, 1 to 2 minutes. Continue stirring, adding stock every minute or so, until the rice is al dente and appears creamier. This can take as fast as 15 minutes but could take up to 25, so taste as you go to avoid overcooked, mushy rice.
Stir in the cheese (6 oz), butter (2 Tbsp), and plenty of black pepper. Taste for seasoning. If the risotto feels a bit lackluster, stir in additional parmesan cheese (6 oz) or Better Than Bouillon. Line a baking sheet with parchment paper. Dump the risotto onto the sheet and spread out. Cover with plastic wrap and let chill until completely cold and set, at least 2 hours or up to 2 days.
Add the flour (2 cups) to a shallow dish, the eggs (4 large) to another, and the panko (4 cups) to a third. Use a ¼ cup ice cream scoop and scoop out about a 3 Tbsp-sized amount of risotto into your palm. Form lightly into a ball. Then coat in flour shaking off excess, then eggs allowing excess to drip off, and then pack on the panko. After the panko is on, you can more easily form it back into a ball shape. Place on a parchment-lined baking sheet. Repeat with remaining risotto.
Add enough neutral oil to a large Dutch oven or pot to come up 2 in up the side of the pot. Preheat over medium-high heat until the oil reaches 360 °F on a cooking thermometer. Drop in arancini evenly spaced in the pot (about half of the balls). Fry for 3-4 minutes until golden brown. Remove to a paper towel-lined wire rack and season with sea salt. Repeat with remaining unfried arancini. The arancini can be refrigerated or even frozen at this point and reheated from frozen in a 350 °F convection oven until hot again.
Plate the arancini by spreading pesto onto a large platter and garnishing with a teaspoon or so of chopped calabrian chili.
