Bring a large pot of salted water to boil. Cook linguine or fettuccine pasta according to package directions until al dente. Before draining, reserve about 1 cup of starchy pasta water.
While pasta cooks, heat 1 tablespoon butter with olive oil in a large skillet over medium-high heat. Season lobster chunks with salt and pepper, then sear for 2 minutes per side until just opaque and slightly golden. Remove to a plate immediately.
Add remaining butter to the same skillet. Toss in diced shallot and cook for 2-3 minutes until softened. Add minced garlic and red pepper flakes, stirring constantly for 1 minute until fragrant but not browned.
Pour in white wine to deglaze the pan, scraping up browned bits. Simmer for 2-3 minutes until reduced by half.
Reduce heat to medium-low and stir in heavy cream. Bring to a gentle simmer for 3-4 minutes until sauce thickens enough to coat the back of a spoon. Whisk in Parmesan cheese until melted and smooth. Season with salt, pepper, and lemon zest.
Add drained pasta to the skillet with cream sauce. Toss gently to coat, adding splashes of reserved pasta water as needed to reach desired consistency.
Fold in cooked lobster chunks and lemon juice, heating through for 1-2 minutes. Garnish with fresh parsley and serve immediately.