Bring a large pot of salted water to a boil. Add the penne pasta and cook according to package instructions until al dente, about 10-11 minutes. Drain and set aside.
In a large skillet over medium heat, cook the chopped turkey bacon until it starts to crisp, about 5 minutes. Remove bacon and set aside, leaving the rendered fat in the pan.
Add the diced onion to the skillet and sauté until translucent, about 3-4 minutes. Stir in the minced garlic and cook for another 30 seconds until fragrant.
Add the ground beef to the skillet with onions and garlic. Break it up and cook until browned and no longer pink, about 6-8 minutes. Drain excess fat if necessary. Season with salt, pepper, and Italian seasoning.
Stir in the diced tomatoes with green chilies, beef broth, and heavy cream. Simmer for 5 minutes to meld flavors and thicken the sauce slightly.
Add the cooked penne pasta and half of the shredded cheddar cheese to the skillet. Stir until the cheese melts and coats the pasta evenly.
Preheat oven to 375°F (190°C). Transfer pasta mixture to a greased 9x13-inch baking dish. Sprinkle remaining cheddar cheese and cooked turkey bacon over the top.
Bake uncovered for 15-20 minutes, until cheese is bubbly and golden.
Remove from oven and let cool a few minutes. Garnish with chopped green onions. Serve warm and enjoy.