Cut the corn kernels off the corn cob and place into a bowl. In another bowl, toss shrimp with 1 teaspoon Old Bay seasoning and ½ teaspoon salt. Set both aside.
You can peel the casing from the sausage (see cook’s note) or leave the sausage intact. Cut the sausage in half lengthwise and then slice into half moons. In a large sauté pan over medium to medium-high heat, cook sausage in 1-2 tablespoons of olive oil until it’s brown and crispy on both sides, about about 7 minutes. Remove sausage from the pan with a slotted spoon and set aside in a bowl, leaving any oil or rendered fat in the pan.
Return the pan to the stove and reduce the heat to medium. Depending on how much oil or fat is in the pan add 1-2 tablespoons of extra virgin olive oil and place the shrimp in the pan, cooking until they have a reddish hue, about 2 minutes on one side and 1 1/2 minutes on the other, being careful not to overcook your shrimp. The shrimp will be done when they are opaque in color and have curled to a “C” shape. If they begin to curl into “O” shapes, they are overcooked. When done, remove and set in the bowl with the sausage. Set aside.
Add the remaining olive oil to the pan, if needed. Add the scallions, garlic, serrano, remaining teaspoon Old Bay, and salt, and stir everything to combine. Cook for 1 minute until the vegetables are a little wilted. Add the corn and the butter, stirring to combine. Cook for 5 minutes, add lime juice, stir again, and turn off heat. Add the shrimp and sausage, stir until combined. Top with the chopped basil, serve and enjoy!