In a large bowl, combine milk and bread crumbs. let sit while preparing the other ingredients.
Combine all ingredients with the milk and bread crumb mixture until ingredients are just fully incorporated. Form mixture into 1 inch balls and place balls on a parchment lined baking sheet.
Bake meatballs at 375 degrees for 20 minutes or until browned on all sides.
While meatballs are baking, in a large pot add olive oil, onion and garlic and cook on medium-high heat until onion is translucent, 3-5 minutes. Add crushed red pepper, crushed red tomatoes, basil and season to taste with salt. Bring to a simmer.