Place an oven rack at the second to last position. Preheat oven to 375 degrees Fahrenheit.
In a Dutch oven over medium heat, add bacon and cook until your preferred doneness (stirring occasionally). I prefer my bacon crispy so it took about 10-15 minutes. Remove cooked bacon chunks with a slotted spoon and place on a plate covered with paper towel to absorb grease. Leave all remaining bacon grease in the pot – this is pure gold.
Add one tablespoon of olive oil to the bacon grease in the Dutch oven then add onions and garlic. Cook, stirring often, about 6 minutes or until onions are translucent (and the smell of garlic invades your entire kitchen, yes please).
Add 3 cups of vegetable broth and 1 cup of water to the Dutch oven. Increase heat to medium-high then cover and bring to a boil.
Once boiling, remove the Dutch oven from heat and stir in the Arborio rice. Cover the pot again and bake on the second to last rack for about 40-45 minutes or until the rice is cooked through and all the liquid has been absorbed.
While the rice is in the oven, cook your corn. if using canned or frozen corn, cook it according to package instructions. If using fresh corn, I would recommend grilling or roasting the cobs whole and then slicing the kernels off once cooked. make sure to keep the corn warm while waiting for everything else to finishing cooking.
once the rice is cooked through and all the liquid has been absorbed, remove the dutch oven from the oven and stir in remaining cup of vegetable broth, butter, and white wine. keep stirring (about 1-2 minutes) until all ingredients are fully incorporated into the rice and it becomes creamy!
mix in cooked corn, bacon, s+p (to taste), and red pepper flakes (to taste). portion the bacon and corn risotto into bowls (top with extra red pepper flakes if you like it hot) then serve and devour.