Heat olive oil in a medium skillet over medium heat. Sauté shallots until golden, about 3-4 minutes. Stir in lemon juice, salt, and pepper to create the vinaigrette.

Bring a large pot of salted water to a boil. Add orzo pasta and cook for 8-10 minutes until al dente. Drain and rinse under cold water.

In the same skillet, add asparagus and sauté over medium-high heat for 3-4 minutes until tender-crisp. Transfer to ice water, then drain.

In a large mixing bowl, combine the orzo, asparagus, and peas. Gently fold in arugula and vinaigrette until evenly coated.

Taste and adjust seasoning with salt and pepper. Allow the salad to sit at room temperature for 15 minutes before serving.