Add shrimp to a medium bowl and toss with 1 tablespoon Cajun seasoning, 1 tablespoon lime juice, and 1/2 teaspoon garlic powder. Set aside.
Cook fettuccine in salted water according to package directions just until al dente. Reserve 1/2 cup pasta water then drain and set aside.
Working in two batches, melt 1 tablespoon butter with 1 tablespoon olive oil over medium high heat in a large heavy bottom skillet. Add shrimp and spread into an even layer. Cook 3-4 minutes, just until shrimp are opaque and cooked through, flipping half way through. Scrape shrimp and juices into a bowl. Set aside. After shrimp is cool enough to handle, you can chop tails off if you desire.
To the now empty pan, melt 1 tablespoon butter with 1 tablespoon olive oil over medium-high heat. Add onions, bell peppers, 1-3 teaspoons Cajun seasoning (see notes), 1/2 teaspoon salt, 1/4 teaspoon pepper, and optional cayenne pepper (if you want it spicy); cook for 2 minutes. Add garlic, sprinkle in flour and cook 1 additional minute.
Turn heat to low and whisk in chicken broth, and heavy cream, stirring constantly until smooth. Stir in diced tomatoes.
Increase heat to medium high and bring the sauce to a simmer. Simmer until thickened, stirring occasionally, approximately 3-5 minutes.
Reduce heat to low and stir in lime juice followed by Parmesan cheese until melted. Stir in the cooked shrimp, and pasta until well coated in sauce, adding additional reserved pasta water or heavy cream if needed to reach desired consistency. Taste and season with additional salt, pepper and/or cayenne pepper to taste.
Garnish with freshly grated Parmesan Cheese, fresh parsley and lime juice (optional).