01 - Preheat oven to 400°F. Line a rimmed baking sheet with parchment paper and set aside.
02 - In a large mixing bowl, combine the ground beef, breadcrumbs, Parmesan, milk, egg, garlic, parsley, oregano, salt, and pepper. Gently fold until just incorporated—avoid overmixing. Shape into 16 to 18 evenly sized meatballs and arrange on the prepared baking sheet.
03 - Bake for 15 to 18 minutes, until the meatballs are golden brown on the outside and cooked through to an internal temperature of 160°F.
04 - While the meatballs bake, warm the olive oil in a large skillet over medium heat. Add the diced onion and sauté until softened and translucent, about 3 minutes. Stir in the garlic and cook for 1 additional minute until fragrant.
05 - Pour in the crushed tomatoes, broth, sugar, salt, and pepper. Bring to a gentle simmer and cook for 7 to 8 minutes, stirring occasionally, so the flavors meld and the sauce slightly reduces.
06 - Reduce the heat to low and stir in the heavy cream until the sauce is smooth and uniform. Add the chopped basil and let the sauce simmer gently for 2 more minutes.
07 - Transfer the baked meatballs into the skillet with the sauce. Cook together for 5 minutes over low heat, allowing the meatballs to absorb the sauce and heat through evenly.
08 - Serve hot, garnished with additional fresh basil. Accompany with pasta, steamed rice, or crusty bread to soak up the sauce.