Cook the pasta to al dente according to package instructions, drain and keep warm.
Cook the chopped bacon pieces in a large skillet until nicely browned, then remove to a paper towel to drain the excess grease.
Remove all but approximately 1 1/2 tbsp of the bacon grease from the skillet and bring the temperature of the pan to smoking. Pat the scallops dry with a paper towel, then salt and pepper them and place in the hot skillet, 1 1/2 to 2 minutes. Then, using tongs, turn the scallops and sear the second side 1 1/2 to 2 minutes. Remove them from the skillet and cover to keep warm.
Add the olive oil to the skillet and heat medium to medium low and add the garlic and shallot. Cook for 2 to 3 minutes to soften without browning the garlic.
Add the wine and red pepper flakes and bring to a boil. Scrape the skillet with a wooden spoon to deglaze the pan. Taste and add salt and pepper as desired.
Add the pasta and bacon bits to the sauce to warm. Serve right away topped with the scallops and parsley garnish.