Place each lobster on cutting board; twist off tail. With sharp chef's knife, cut tail in half lengthwise; remove meat from tail and cut into chunks. Place in bowl.

Remove claws from body. With blunt side of knife, crack claws; pull apart shell and remove meat. Cut into chunks and add to bowl. Pull off back shell; remove white protein clumps and discard. Keep green or yellow tomalley (liver) and add to bowl, if desired. Reserve shells for lobster stock, if desired. (Make-ahead: Cover and refrigerate for up to 2 hours.)

In large pot of boiling salted water, cook fettuccine until tender but firm, 8 to 10 minutes. Drain, reserving 1/4 cup (50 mL) of the cooking liquid.

Meanwhile, in large nonstick skillet, heat oil over medium heat; fry lobster, garlic, shallot, salt and hot pepper flakes until fragrant, about 1 minute.

Add wine; cook for 1 minute. Add parsley, cream, pasta and reserved cooking liquid; toss to coat and heat through.