Heat frying oil to 350°F (or medium heat). Use the back of a wooden spoon to test. Place spoon in frying oil. When the oil bubbles around the spoon it is ready. Toss shrimp in flour. Fry until golden brown. Drain and dry. Set aside. In a sauce pot, add shallots, chives and garlic to hot sauce. Reduce hot sauce mixture until 1/4 C remains. Whisk in butter in diced cubes slowly on a low heat until well blended. Remove from heat and toss with shrimp. Place on a serving platter or bowl.
Chef's Note: If frying the shrimp, the oil should be enough to fill the pot not more than half way. For a lighter option, the shrimp may be broiled or grilled. If broiling, spray a metal broiler (without slots) with a non-stick cooking spray and broil the shrimp for 6-8 minutes.