01 - Preheat oven to 400°F. Line a rimmed baking sheet with parchment paper and set aside.
02 - In a large mixing bowl, combine ground beef, breadcrumbs, Parmesan, milk, egg, garlic, parsley, oregano, salt, and pepper. Gently fold until just combined, being careful not to overwork the mixture. Shape into 16 to 18 uniform meatballs and arrange on the prepared baking sheet.
03 - Bake for 15 to 18 minutes until golden brown on the outside and cooked through to an internal temperature of 160°F.
04 - While the meatballs bake, heat olive oil in a large skillet over medium heat. Sauté the onion until softened and translucent, about 3 minutes. Add the garlic and cook for 1 additional minute until fragrant.
05 - Pour in the crushed tomatoes, broth, sugar, salt, and pepper. Stir to combine and bring to a gentle simmer. Cook for 7 to 8 minutes, allowing the flavors to develop and the sauce to slightly thicken.
06 - Reduce the heat to low and stir in the heavy cream until the sauce is smooth and uniformly blended. Add the chopped basil and simmer for 2 more minutes.
07 - Transfer the baked meatballs into the sauce, turning to coat evenly. Cook over low heat for 5 minutes, allowing the meatballs to absorb the sauce and heat through completely.
08 - Serve hot, garnished with additional fresh basil leaves. Accompany with pasta, rice, or crusty bread.