In the meantime, heat 1-2 Tbsp. (15-30 ml) of olive oil in a 10" (25 cm) skillet over medium-high heat until shimmering. Add the sliced mushrooms. Stir to coat and let them cook over high heat without touching them for at least 2-3 minutes. Flip and repeat until golden on all sides. Season with salt and pepper, and set aside.
Heat 1-2 Tbsp. (15-30 ml) of olive oil in a heavy 12" (30 cm) skillet over medium-high heat. Add the shallots and garlic and stir until slightly translucent and fragrant (do not brown the shallots). Then add the rice, stirring and tossing frequently until the rice has begun to take on a pale golden blond color and nutty aroma, about 3 minutes. Don't let the rice turn brown.
Using a ladle, add about 1/2 cup (120 ml) of hot vegetable broth to the rice at a time while continuing to stir the rice. When the rice appears almost dry, add another ladle of broth and repeat the process. It's important to stir constantly and add the next ladle as soon as the rice is almost dry. As the rice cooks, it will release its natural starches and start taking on a creamy consistency.
The risotto is ready when the rice is al-dente and still somewhat firm to bite (after about 20 minutes). If you run out of broth and the risotto still isn't done, you can finish the cooking using hot water. If you're using unsalted broth, season the risotto with some salt and pepper.
Store leftover risotto covered in the refrigerator for 3-4 days. To reheat, for every 1 cup risotto, bring about 1/4 cup (60 ml) vegetable broth to a boil on the stove in a pot large enough to fit the risotto. If you don't happen to have broth on hand, water can work in a pinch. Add the risotto and stir it for a few minutes until the rice warms up. If the risotto is still quite thick, you can add a splash or two more broth, as needed, to loosen it up.
*If you don't like wine, you can add more vegetable broth and a splash of lemon juice instead.
**Wild mushrooms are hard to find and can be pretty pricey. You can easily substitute them for some classic brown crimini or portobello mushrooms.