Bring a large pot of salted water to a boil. Add the penne pasta and cook according to package instructions until al dente. Drain and set aside.
In a large skillet, heat the olive oil over medium heat. Add the sausage and break it apart using a wooden spoon. Cook until browned, about 5-7 minutes.
Add the chopped onion to the skillet and sauté until soft and translucent, about 3-4 minutes.
Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the canned diced tomatoes (with their juice), dried basil, dried oregano, salt, and pepper to the skillet. Bring the mixture to a simmer and cook for 5 minutes.
Reduce the heat and stir in the heavy cream. Let it simmer for another 2-3 minutes until slightly thickened.
Toss the cooked penne pasta with the sausage mixture until well combined. Cook for an additional minute to heat through.
Serve hot, topped with grated Parmesan cheese and fresh basil, if desired.