Cook the pasta in salted boiling water according to the package instructions until al dente. Before draining, reserve ¼ cup of the pasta water for the sauce.
Meanwhile, prepare the sauce. Heat the olive oil and butter in a large, deep skillet over medium heat until the butter has melted completely.
Add the sausage to the skillet, season with salt and pepper, and cook for 5-6 minutes, breaking it into smaller pieces as it browns.
Stir in the garlic and cook for about 1 minute, until fragrant.
Mix in the tomato paste, dried basil, and crushed red pepper flakes. Cook for 2-3 minutes, stirring occasionally, until the mixture deepens in color.
Deglaze the skillet with the white wine, scraping up any browned bits. Cook for 4-5 minutes, stirring, until most of the wine has evaporated.
Add the diced tomatoes and heavy cream, stirring to combine. Let the sauce simmer for 5-6 minutes, until slightly thickened.
Add the cooked pasta, reserved pasta water, and grated Parmesan cheese to the sauce. Toss everything together and cook for another 2-3 minutes until the sauce is thick and coats the pasta.
Serve immediately, garnished with fresh basil and extra grated Parmesan.