Cook the penne pasta according to the package instructions until al dente. Drain and set aside.

In a large skillet, heat the olive oil over medium-high heat. Add the sliced sausage and cook until browned, about 5 minutes. Remove the sausage from the skillet and keep warm.

Add the diced onion to the skillet. Cook until the onion becomes translucent, about 3 minutes. Stir in the garlic and heat for 1 minute.

Stir in the diced red and yellow bell peppers, and cook for another 5 minutes until they start to soften.

Add the diced tomatoes, heavy cream, and chicken broth to the skillet. Stir in the oregano, basil, and crushed red pepper flakes, if using. Season with salt and pepper to taste. Return the sausage to the sauce.

Bring the mixture to a simmer and cook for 5-7 minutes until the sauce thickens slightly.

Add the cooked pasta to the skillet and toss to coat it evenly with the sauce.

Stir in the grated Parmesan cheese and cook for an additional 2-3 minutes until the cheese is melted and the pasta is heated through.

Serve the pasta hot, garnished with fresh parsley.