Heat 1 tablespoon extra virgin olive oil in a large pot over low heat. Allow the pot to preheat as you prepare the meatballs.
Place the garlic, basil, parsley, ricotta cheese, eggs, whole milk, Parmigiano-Reggiano cheese, and panko into a large mixing bowl. Use a fork to whisk everything together to form a thick paste. Add the beef on top and season with 2¾ teaspoons kosher salt, 1 teaspoon crushed red pepper, and black pepper to taste.
Use your hands to mix until the ingredients are completely combined. Drop a small piece into the warm pot and fry it briefly until it is cooked through. Taste and adjust the seasonings of the mixture to your preference.
Scoop out tablespoon-sized pieces of the mixture and roll into meatballs. They should weigh approximately 1½ ounces each. The mixture will yield about 32 meatballs.
Fry the meatballs:
Turn the heat on the pot to medium. Once hot, add the meatballs in an even layer and fry for 2 to 3 minutes. Use tongs to flip the meatballs and cook for an additional 2 to 3 minutes.
Only flip when the meatballs release easily from the pot. Cook the meatballs in batches as needed and transfer to a platter as they finish browning. Adjust the heat and add more oil as needed to prevent burning or sticking.
Prepare the broth:
After the meatballs are browned, prepare the broth. Add another small drizzle of extra virgin olive oil to the pot and return the heat to medium. Add the onion and sauté for 4 to 5 minutes.
Add the butter to the onion. Once melted, add the minced garlic, crushed red pepper, and tomato paste. Sauté for 1 minute until the paste deepens in color.
Add the dry vermouth to the pot and stir to lift anything stuck to the bottom. Add the crushed tomatoes and beef stock. Bring to a boil.
Simmer the meatballs:
Reduce the heat to low. Taste and add salt, pepper, and 1 teaspoon sugar if desired. Add the meatballs to the pot. Cover and simmer for 1 hour, stirring occasionally. Add more beef stock if the mixture reduces too quickly or sticks to the bottom.
Cook the orzo:
Bring a large pot of salted water to a boil. Add the orzo and cook until 2 minutes under al dente, about 8 minutes total. Drain.
Finish the meatballs and orzo:
Add the cooked orzo to the pot of meatballs along with the grated Parmigiano-Reggiano and torn basil leaves. Stir to combine. Taste and add more salt and pepper if needed.
To serve:
Spoon the meatballs and orzo into shallow bowls. Finish with more basil and Parmigiano-Reggiano, if desired. Enjoy!