In a large skillet over medium high heat, cook bacon until crisp. Remove from pan and set aside, but reserve the fat.
Add garlic, salt, pepper, and half (1 tsp) of the Italian seasoning to the shrimp, and toss to combine.
Return skillet to medium heat, and add butter to the reserved bacon fat. Once the butter is melted and the pan is hot, add shrimp and toss to coat.
Cook shrimp until pink and opaque, about 2-3 minutes per side. Squeeze with lemon, remove from pan, and set aside.
Add broth to skillet and warm through, 30-45 seconds. Stir in cream, red pepper, and remaining Italian seasoning.
Bring cream mixture to a simmer. Stir in parmesan and mozzarella. Reduce heat to medium low and keep at a low simmer until cheese is melted and sauce is thickened, 4-5 minutes.
Return shrimp to sauce and simmer until heated through again, 1-2 minutes. Stir in bacon and parsley. Season to taste.
Serve over veggie noodles, cauliflower rice, or your favorite low carb pasta replacement.