Finely chop your onion and garlic.
In a large saute pan, heat the olive oil and butter over medium heat until melted.
Add the onion and saute until golden. Add the garlic. and give it a few seconds.
Once golden, add the pancetta and saute until it starts to brown and crisp.
Once the pancetta has gotten toasty, carefully add your vodka.
Cook until the vodka has reduced by half.
Add the tomatoes.
Simmer on medium heat for 20-25 minutes. Occasionally stir and check for salt and pepper.
While the sauce cooks, get your penne cooking according to package directions so that your pasta and sauce will be done within a few minutes of each other.
In the last 5 minutes of cooking your sauce, lower the heat to lowest setting and add the cream and basil.
Mix until smooth and creamy. Let it slowly cook for 5 minutes.
Drain your pasta and add it to the pan. Mix it with the sauce and add the Parmesan cheese. If your saute pan isn't large enough do do this, add your pasta to a large serving bowl and pour the sauce over top, add the cheese and mix.
Serve with extra Parmesan cheese!