Flaming Gambit deals X damage to target player or planeswalker. That player or that planeswalker's controller may choose a creature they control and have Flaming Gambit deal that damage to it instead.
Flashback
(You may cast this card from your graveyard for its flashback cost. Then exile it.)
"Flashback [cost]" means "You may cast this card from your graveyard by paying [cost] rather than paying its mana cost" and "If the flashback cost was paid, exile this card instead of putting it anywhere else any time it would leave the stack."