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Heat 2 tablespoons of the olive oil in a large skillet over medium-high heat. Season the shrimp with a good pinch of salt and several grinds of black pepper. Add the shrimp to the hot skillet in an even layer and cook until pink and opaque throughout, about 2 minutes per side. Transfer to a plate.
Return the skillet to medium-high heat and add the remaining 1 tablespoon olive oil. Stir in the bell peppers, onion, garlic, 2 teaspoons of the oregano, red pepper flakes, and 1/4 teaspoon salt. Cook, stirring occasionally, until vegetables are tender and browned in spots, about 5 minutes. Pour in the wine and cream, then scrape any brown bits from the bottom of the pan with a wooden spoon. Bring to a steady simmer, then continue to simmer until the alcohol has cooked off and the sauce has reduced by half, about 3 minutes. Transfer to a blender and puree until very smooth. Season with salt and pepper. Pour back into the skillet and keep warm on medium-low heat.
Meanwhile, bring a large pot of salted water to a boil over high heat. Add the pasta and cook until just al dente according to package directions; drain well. Add the pasta to the sauce along with the shrimp and 1 teaspoon of the oregano. Continue tossing until everything is well coated and warmed through.
Transfer the pasta to a large shallow serving bowl and top with the remaining 1 teaspoon oregano.