Boil Pasta: Cook pasta in a large pot of boiling salted water for 1 minute less than the package instructions. Reserve 1 cup of pasta water before draining.

Cook Chicken: In a large pan over medium heat, warm olive oil and melt butter together. Add diced chicken pieces, cooking for about 6-7 minutes until they are thoroughly cooked and no longer pink inside.

Sauté Aromatics: Introduce shallots and garlic to the pan, sautéing for 1-2 minutes until they're fragrant and softened.

Build Sauce: Mix in the tomato paste, followed by the chicken stock. Bring to a gentle simmer, then reduce the heat.

Incorporate Cream Cheese: Stir in the light cream cheese, letting it blend into the sauce until completely melted and bubbling for about 1-2 minutes.

Add Sauces: Pour in the buffalo wing sauce and ranch dressing, mixing until fully integrated.

Combine with Pasta: Gently fold in the drained pasta, gradually adding reserved water until the dish reaches desired creamy consistency.

Finish with Cheese: Sprinkle in the grated cheeses, stirring until they melt into the sauce. Adjust seasoning with salt and pepper to taste.