1. Heat 1 teaspoon oil in a large skillet over medium heat; swirl to coat. Add garlic and shallots to pan; sauté 3 minutes or until shallots are softened, stirring frequently. Combine shallot mixture, ricotta, and next 8 ingredients (through egg) in a medium bowl. Shape mixture into 12 (1-inch) meatballs; flatten each meatball slightly.
2. Return pan to medium-high heat. Add remaining 2 teaspoons oil to pan. Add meatballs to pan; cook 6 minutes, turning once. Add marinara sauce; bring to a boil, scraping pan to loosen browned bits. Cover, reduce heat, and simmer 8 minutes or until meatballs are done. Top bottom half of each bun with 1 1/2 tablespoons sauce, 1 meatball, 1 basil leaf, and top half of bun.