Caramelized Onion Flatbread with Spiced Olive Oil

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2 medium yellow onions, quartered and sliced

2 garlic cloves, minced

1/4 cup butter

1 pound refrigerated pizza dough, at room temperature

2 tablespoons chopped fresh herbs (combination thyme, rosemary and oregano leaves)

1/4 cup grated Cheddar

1/4 cup grated Parmesan or Pecorino

Salt and freshly ground black pepper

1/2 cup balsamic vinegar

1/4 cup extra-virgin olive oil

1 tablespoon red pepper flakes