Make the Meatballs (2-3 dozen):
Place the breadcrumbs in a bowl and moisten them with just enough milk to cover them, pressing gently. Let them sit about 10-15 minutes, until the crumbs are very soft.
Put the shallots and herbs in the small bowl of a food processor and pulse until finely chopped. Scrape the mixture out into a large mixing bowl and add the egg. Remove the breadcrumbs from the milk, squeezing out the excess liquid, and add to the bowl. Add the ricotta and salt and mix until well combined. Add the beef and pork and, with clean hands, mix gently until the ingredients are evenly incorporated.
Scoop or pinch off small amounts of the mixture and roll into meatballs, placing them on a plate or platter.
Heat the oil in a wide skillet until shimmering, then fry the meatballs in batches, turning them to brown them well on each side, and draining them on paper towels. Alternatively, you can place the meatballs on a foil-lined sheet pan and bake them in a preheated 400 degree oven for 20-25 minutes. Either way, you'll finish cooking the meatballs in the sauce.
Make the Sauce:
Place the onion, carrot, and garlic in the bowl of a food processor and pulse until finely chopped.
In a heavy-bottomed pot, heat the olive oil over medium heat until shimmering. Add the chopped vegetables and a pinch of salt and stir through, cooking until the vegetables are soft. Clear a spot in the bottom of the pot and add the tomato paste, allowing it to toast briefly before stirring it through the vegetables. Add the chile flakes and port, and cook for a minute or two before adding the herbs and the tomatoes with their juice, breaking the tomatoes up with your fingers or a spoon.
Add the browned meatballs to the simmering tomato sauce, cover and bring to a boil, then reduce the heat to low and cook uncovered until the meatballs are cooked through and the sauce is nicely thickened and reduced (about 30-45 minutes).
Add the red wine and stir through, then simmer for an additional 15 minutes, tasting and adjusting the salt if necessary.
To serve, remove the meatballs and place them in a serving bowl with a bit of sauce still clinging to them. Toss 1 lb. of hot cooked pasta (spaghetti or rigatoni work well) in the sauce to coat it, adding a splash or two of the starchy pasta water, and serve the dressed pasta and the meatballs separately, passing additional sauce at the table. Garnish with plenty of freshly grated cheese and a sprinkle of chopped fresh flat-leaf parsley.