Cook pasta according to package directions, minus 2 minutes. Turn grill on medium heat to preheat.
Prepare asparagus, red pepper, and shallot, and combine with tomatoes, salt, pepper, and olive oil. Grill on a grill pan or cast iron pan for 10-12 minutes or until soft.
In another very large pan over low heat, sweat pancetta until rendered, 10-12 minutes. Toss in shrimp for the final minute to warm.
Once veggies are cooked and pancetta rendered, combine pasta, shrimp, veggies, and arugula into large pan. Cook for 1-2 minutes to marry flavors over low heat.
Serve pasta warm, garnished with the Parmesan cheese.