Boil a large, salted pot of water and cook your pasta al dente according to package directions.
Cut the bacon into small pieces (kitchen shears make this easy), add it to a skillet, and cook over medium-high heat until crispy. Transfer the bacon to a paper towel lined plate and leave about 2 tablespoons of the bacon fat in the pan.
Reduce the heat to medium and sauté the onion until softened (about 5-7 minutes).
Stir in the garlic and white wine, and let it bubble for about 30 seconds.
Add in the tomato paste, cream, Italian seasoning, and crushed red pepper flakes. Stir until the sauce is smooth, and let it cook for about 5 minutes or until it's thickened up a bit.
Stir in the cooked bacon and basil.
Take the skillet off the heat and stir in the parmesan cheese.
If the sauce has become too thick, thin it with a little bit of the hot pasta water prior to draining it. Drain the cooked pasta, add it to the skillet, and toss. Season with salt & pepper as needed and serve immediately.