Combine all ingredients for the meatballs in a medium sized bowl, mix well and roll meatballs. Set aside.
Heat olive oil in a large pan, add the pancetta and cook over very low heat allowing the fat to render. Then add the chopped shallot and continue cooking for 5 minutes longer until the shallot is soft. Pour in the white wine and let it simmer, the liquid should reduce by a half.
Add chilli flakes and stir for a few seconds, then add canned chopped tomatoes or crushed tomatoes and basil, stir everything together and let it simmer on low heat for 10-15 minutes, season with salt to taste. Meanwhile cook the pasta according to package directions.
While pasta is cooking, brown the meatballs in a separate pan over medium heat for 7-10 minutes. They don't have to be cooked all the way through, just browned.
Remove the meatballs from the pan add them to the tomato sauce, cover with a lid to allow the meatball to finish cooking for another 5 minutes.
Drain cooked pasta and gently toss it with the sauce and meatballs. Serve with freshly grated Parmesan cheese or Pecorino Romano.