Prep the shrimp: Pat shrimp dry with paper towels. Season with salt, pepper, and half the paprika. Set aside.

Crisp the bacon: In a large skillet over medium heat, cook chopped bacon until crisp, 6–8 minutes. Transfer to a plate lined with paper towels. Leave about 2 tablespoons of bacon fat in the pan. If there’s more, remove the excess.

Sauté aromatics: Add the onion to the skillet and cook until softened, about 3 minutes. Stir in jalapeños and cook another 2 minutes. Add garlic and cook 30 seconds, just until fragrant.

Cook the shrimp: Push the veggies to the edges. Add the shrimp in a single layer, adding a bit of olive oil or butter if the pan looks dry. Cook 1–2 minutes per side, just until pink and slightly curled. Transfer shrimp to a plate. Do not overcook.

Build the sauce: Sprinkle in the remaining paprika and the cumin. Pour in the broth, scraping up any browned bits from the pan. Simmer 1–2 minutes to reduce slightly.

Creamy finish: Reduce heat to medium-low and stir in the heavy cream. Simmer gently for 2–3 minutes until the sauce thickens enough to coat a spoon. If using, stir in Parmesan until melted and smooth.

Combine: Return shrimp and most of the bacon to the skillet, tossing to coat. Add lime zest and 1–2 teaspoons lime juice. Taste and adjust with salt, pepper, and more lime as needed.

Garnish and serve: Top with the remaining bacon, chopped cilantro or parsley, and a pinch of red pepper flakes if you like heat. Serve hot over rice, pasta, or with warm bread.