1. Preheat oven to 350°.
2. Bring 2 1/2 cups water and 1 1/4 cups broth to a boil in a medium saucepan; add rice mix. Cover, reduce heat, and simmer 25 minutes or until rice is tender. Drain well. Stir in 2 tablespoons butter and hot sauce; fluff with a fork.
3. Melt remaining 1 tablespoon butter in a large skillet over medium-high heat. Add oysters to pan; saute 3 minutes or until edges curl. Remove oysters with a slotted spoon; discard remaining cooking liquid.
4. Place half of rice mixture in a 13 x 9–inch baking dish coated with cooking spray. Arrange oysters evenly over rice; sprinkle with salt and black pepper. Top oysters with the remaining rice mixture.
5. Heat a small saucepan over medium heat. Coat pan with cooking spray. Add shallots and garlic to pan; cook 1 minute, stirring occasionally. Stir in remaining 1/2 cup broth and mushroom soup; cook 2 minutes or until thoroughly heated. Remove from heat; stir in half-and-half. Pour broth mixture evenly over rice mixture. Bake at 350° for 40 minutes or until golden brown and bubbly. Garnish with parsley and crushed red pepper, if desired.