Heat olive oil in 3-quart saucepan over medium-high heat and cook onion, stirring occasionally, until almost tender, about 4 minutes. Stir in garlic and cook 30 seconds. Stir in vodka. Bring to a boil over high heat.
Stir in Knorr® Parma Rosa sauce mix blended with milk and cream. Bring to a boil over medium heat, stirring constantly. Reduce heat to low and stir in cheese. Simmer until cheese is melted and sauce is thickened, about 2 minutes.
To serve, toss sauce with hot penne. Serve, if desired, with freshly ground black pepper and thinly sliced fresh basil.