Cook the bacon. Heat a 12-inch oven-proof skillet over medium-low heat, add the diced bacon, and cook until crisp and the fat has rendered out, stirring frequently. Transfer the cooked bacon to a paper towel-lined plate and set aside. Leave the rendered fat in the pan.
Cook tortellini. While the bacon is cooking, prepare the tortellini according to package instructions, drain, and set aside. Preheat your broiler.
Start sauce. Saute the minced garlic over medium-low heat for 1 minute. Stir in the flour, salt, pepper, Italian seasoning, crushed red pepper, and cook for another 1-2 minutes.
Add cream and parmesan. Pour in the heavy cream and stir over medium-low heat until thickened. Add in the parmesan and mozzarella cheeses and stir until completely melted and mixed through.
Assemble. Add in the cooked tortellini, half of the cooked bacon, and fresh basil, gently mix it in using a rubber spatula.
Broil and serve. Broil for 1 minute. Remove and top with the remaining bacon and garnish with fresh parsley. Enjoy!