In a large bowl, combine the panko breadcrumbs and milk. Let sit for 5 minutes to create a panade. To the soaked panko, add the ground chicken, 1/2 cup Parmesan, egg, garlic powder, onion powder, oregano, salt, and pepper. Use your hands to gently mix until just combined, being careful not to overwork.

Using a small cookie scoop, roll the mixture into uniform 1.5-inch balls (this should yield 20-24 meatballs).

Heat the olive oil in a large skillet or Dutch oven over medium-high heat. Carefully place the meatballs in the pan, working in batches if necessary to avoid overcrowding. Sear for 2-3 minutes per side until golden brown all over. They do not need to be cooked through. Transfer the seared meatballs to a plate.

Reduce the heat to medium. In the same skillet, melt the butter. Add the minced garlic and cook for about 30 seconds until fragrant. Pour in the chicken broth, using a wooden spoon to scrape up any browned bits from the bottom of the pan. Let the broth simmer for 2 minutes to reduce slightly.

Stir in the heavy cream, sun-dried tomatoes, and the remaining 1/2 cup of Parmesan cheese. Bring the sauce to a gentle simmer, stirring occasionally, until the cheese is melted and the sauce has thickened, about 3-4 minutes. Taste and season with more salt and pepper if needed.

Gently return the seared meatballs to the skillet, nestling them into the sauce. Reduce the heat to low, cover, and let everything simmer for 10-15 minutes, or until the meatballs are cooked through and tender.

Turn off the heat and stir in the fresh, chopped basil. Serve immediately.