Melt butter in a large saucepan with tight-fitting lid. Add shallots and sauté until soft and almost clear, about 5 minutes. Push shallots to side of pan. Add entire amount of flour to butter, then stir with a wooden spoon until very bubbly. Do not let it brown.
Gradually add bouillon, whisking constantly over medium heat. Add sherry, cream, salt and Tabasco. Stir constantly until thickened and fairly smooth.
Add turkey and celery. Cover and turn heat to low. Continue cooking just until turkey is warmed through, stirring frequently.
You can refrigerate the mixture at this point to use the next day or continue.
Just before serving, stir in sweet red peppers and celery and heat through.
Serve over noodles or spoon into flaky pastry cups.