Step 1

In a medium pot over low heat, bring the stock to a simmer, then cover and keep hot.

Step 2

Meanwhile, in a large heavy-bottomed pot over medium heat, combine the olive oil, butter, shallot and a generous pinch of salt and cook, stirring, until the shallots begin to soften, about 2 minutes. Add the garlic and cook, stirring, until softened, about 2 minutes. Add the tomato paste and Calabrian chiles, and cook, stirring, until the tomato paste is toasted and becomes dark brick red, 2 to 4 minutes.

Step 3

Add the rice, and cook, stirring often, until the edges are translucent and the rice starts to smell nutty, about 2 minutes. Pour in the vodka and cook until it reduces by half, about 1 minute. (If you want a dramatic show, you can also carefully light the vodka on fire using a long lighter to cook the alcohol out.)

Step 4

Begin adding the simmering stock, about 1 cup at a time, stirring often, until the rice has absorbed most of the liquid before adding more, 4 to 5 minutes. After 20 to 25 minutes, taste the rice for doneness; it should be tender but with a slight bite to it. If you prefer a looser risotto, you can make a final addition of 1/2 cup of warm water.

Step 5

Once the rice has absorbed the last addition of liquid, add the parmesan cheese, heavy cream, and mascarpone or ricotta cheese, and stir until fully melted and combined.

Step 6

Taste, and season with additional salt and the black pepper, and garnish with the fresh basil. Remove from the heat and serve.