In a large skillet, heat the olive oil over medium heat. Add the sliced chicken sausage and cook until browned, about 5-7 minutes. Remove the sausage from the skillet and set aside.
In the same skillet, add the diced onion and cook until translucent, about 3-4 minutes. Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the diced red bell pepper and cherry tomatoes to the skillet. Cook for another 3-4 minutes until the vegetables are tender.
Stir in the Italian seasoning and red pepper flakes (if using). Return the cooked chicken sausage to the skillet.
Pour in the heavy cream and chicken broth, stirring to combine. Bring the mixture to a simmer.
Meanwhile, cook the penne pasta according to package instructions until al dente. Drain and set aside.
Once the sauce is simmering, add the cooked pasta to the skillet along with the grated Parmesan cheese. Toss everything together until the pasta is well coated. Season with salt and pepper to taste.
Serve hot, garnished with fresh basil if desired.