Bring a large pot of salted water to a boil.
Heat the olive oil over medium high heat in a large skillet. Saute the pancetta and the shallot for 3 minutes, until the shallot is softened and the pancetta is beginning to brown. Add in the garlic and saute for another minute or until fragrant. Set aside.
Whisk together the egg and the Parmesan in a small bowl and set aside.
Cook the pasta according to package directions (about 7-9 minutes), adding in the peas 3 minutes before the pasta is done. Drain the pasta and the peas when the pasta is al dente and the peas are bright green, reserving 1 cup of cooking liquid.
Add the pasta and the peas back into the pot, along with the bacon, shallots, egg and Parmesan mixture, and 1/2 cup pasta liquid. Stir until a creamy sauce develops, adding in additional pasta liquid by the tablespoon as needed. Stir in mint and season with cracked pepper. Serve immediately, with extra grated Parmesan.