In a large bowl, soak mushrooms in boiling water for 5 minutes or until completely hydrated; drain. In a Dutch oven, saute mushrooms and shallots in butter for 3-4 minutes or until tender. Add garlic; cook 1 minute longer.
Stir in rice until completely coated with butter. Add wine; cook and stir for 2 minutes or until wine is absorbed. Add one can of broth; cook and stir until broth is absorbed. Repeat with remaining broth, adding one can at a time. Stir in the ham, cheese, salt and pepper; cook until cheese is melted and mixture is heated through.