Heat olive oil in a large skillet. Add onions, mushrooms, garlic and prociutto. Cook for about 5-8 minutes until prociutto is slightly crispy. Season with salt, pepper and crushed red pepper flakes.
Cook pasta according to directions and be sure to not over cook or boil too hard. Reserve a 1/2 cup of pasta liquid.
Add whipping cream to the skillet and bring to a boil. Reduce and simmer for about 5 minutes until thickened slightly. Add asparagus and cook for another 3-5 minutes until tender. If you need to thicken the sauce more, add some of the reserved pasta liquid. Add pasta and shredded cheese to the cream mixture and blend well. Serve with crusty bread.