In 4-quart saucepan, heat oil over medium heat. Add shallots, sage and red pepper flakes; cook 3 to 4 minutes, stirring occasionally, until shallots are tender. Stir in broth and rice. Heat to boiling, stirring occasionally; reduce heat to medium-low. Cover and cook 50 to 55 minutes or until rice is tender and most liquid is absorbed; let stand, covered, 5 minutes.