Bring a large stockpot of salted water to a boil. Add the rigatoni pasta and cook until al dente, according to package instructions. Reserve 1 cup of pasta water, then drain and set aside.
In a large skillet over medium heat, heat the olive oil and butter. Add the minced garlic and red pepper flakes, stirring for 1-2 minutes until fragrant.
Stir in the tomato paste and cook for 3-4 minutes, stirring often, until it deepens in color and caramelizes slightly.
Pour in the rosé wine, scraping the bottom of the pan to release any browned bits. Let it simmer for 1-2 minutes to cook off the alcohol.
Reduce the heat to low and stir in the heavy cream. Let the sauce simmer for 3-4 minutes, stirring occasionally.
Stir in the freshly grated Parmesan cheese until fully melted. Taste and adjust seasoning with salt and black pepper.
Add the cooked pasta directly into the sauce, tossing to coat. If the sauce is too thick, add small amounts of reserved pasta water until you reach the desired consistency.
Plate the pasta and garnish with additional Parmesan and fresh basil, if desired.