Heat a large straight-sided skillet over medium heat. Add the olive oil and bacon and cook 8 minutes, or until the bacon is beginning to crisp. Add the shallots, garlic and red pepper flakes and cook an additional 3 minutes, or until fragrant. Add the salt, tomato puree and heavy cream and stir to combine. Reduce the heat to low and simmer 5 minutes.
Bring a large pot of salted water to a boil. Cook the linguine 1 minute less than the suggested cooking time, about 10 minutes.
Using tongs, remove the pasta from the water and add directly to the pan with the sauce. Sprinkle the cheese directly on the naked pasta and then toss to coat in the sauce. Add up to 1 cup of pasta water, as needed, to loosen the sauce. Stir in the arugula, tarragon, basil, peas and lobster and simmer an additional minute, or until everything is heated through. Garnish with additional parmesan and basil, if desired.