Bring a large pot of heavily salted water to a boil. Cook the penne according to the package directions. Drain, reserving some of the pasta water.
Heat butter in a large skillet over medium heat. Add the red pepper and garlic and cook for 30 seconds. Add the shallot, half the corn kernels, and a pinch of salt and pepper. Cook for 3 minutes, stirring occasionally. Add the cream and bring to a simmer. Let simmer until the cream has thickened slightly, 3-5 minutes. Put mixture into a blender and blend on high until smooth. Return to the skillet, add the rest of the corn, the grated Parmesan, and tomatoes and keep warm.
Stir the penne into the sauce, add the basil, and stir. If the sauce is too thick, add some of the reserved pasta water, a little at a time.
Serve with fresh Parmesan and more black pepper. Garnish with more sundried tomatoes, if desired.