Combine wine, shallots and lemon juice in 10-inch skillet. Cook over medium-high heat until mixture comes to a boil (5 to 7 minutes). Continue boiling until liquid almost evaporates (4 to 5 minutes).
Reduce heat to medium-low.
Add flour; mix well. Slowly stir in cream with wire whisk until well mixed. Cook, stirring constantly, until mixture boils (1 to 2 minutes). Stir in butter until melted; season with salt and pepper.