Heat olive oil over medium high heat in a dutch oven. While it's heating, break apart the italian sausage into bite size pieces. Add them to the hot oil and cook for 4-5 minutes until browned and cooked through.
Add the shallots and garlic and cook an additional 1-2 minutes until softened. Stir in the crushed tomatoes, red pepper flakes and white wine and heat to boiling. Cook for 3-5 minutes until most of the alcohol has cooked off. Add the mussels to the pot and gently stir them into the tomato sauce. Cover tightly with the lid and reduce heat to medium. Cook for 4-5 minutes until the mussels open up.
Remove from heat and sprinkle on the basil and parsley. Serve with crusty bread or toasted garlic bread to sop up the juices, or serve over cooked spaghetti.