Set a fine-mesh sieve over a heat-proof bowl. Line a dinner plate with paper towels.
Place the shallots in a small saute pan, and pour the oil over the top. Set to medium-low heat, and cook, stirring every once in a while with the tines of a fork to separate the rings. Fry until they are a deep golden brown, 20-25 minutes.
Pour the shallots into the strainer to drain, and then transfer to the plate lined with paper towels. Season with salt and let them cool. Reserve the leftover frying oil for the vinaigrette.
Place a sheet pan in the oven, and heat to 450°F. In a medium bowl, toss the brussels sprouts and bacon with the olive oil, salt, and pepper.
When the oven is heated, carefully spread the brussels sprouts on the hot sheet pan. Use tongs to place the brussels sprouts cut-side down for max crispiness. Bake for 20-25 minutes, until very browned (these will be crispy on the outside and tender on the inside. If you like fully-crisp brussels sprouts, toss them with a spatula, and bake for another 5-10 minutes).
Whisk together the red wine vinegar, garlic, Dijon mustard, and honey. Slowly whisk in the shallot oil until emulsified. Season with salt and pepper.
Pour the Dijon vinaigrette over the hot pan, and toss to coat the brussels sprouts (as you toss, the honey in the dressing will slightly caramelize the brussels sprouts. It's AMAZING). Top with the fried shallots, and serve immediately.