Heat olive oil in a large heavy-bottomed pot or Dutch oven over medium-high heat until shimmering.
Add Italian sausage and break up with a spoon; brown on all sides, about 5–7 minutes, until cooked through. Transfer sausage to a plate with a slotted spoon, leaving fat in the pot.
Reduce heat to medium. Add chopped yellow onion and cook, stirring occasionally, until softened and translucent, about 5–8 minutes.
Add minced garlic and red pepper flakes; cook, stirring, until fragrant, about 1 minute.
Stir in tomato paste and cook, stirring constantly, about 1 minute.
Pour in crushed tomatoes, dried oregano, and chicken broth; bring to a gentle simmer.
Return cooked sausage to the pot and stir to combine. Reduce heat to low, cover, and simmer for at least 30 minutes (up to 60 minutes for deeper flavor).
While ragu simmers, bring a large pot of generously salted water to a rolling boil. Add pappardelle and cook until al dente, about 8–10 minutes.
Reserve ½ cup pasta water, then drain pappardelle and add it directly to the ragu. Toss to coat, adding splash of pasta water if needed to loosen sauce.
Serve immediately, garnished with fresh chopped basil and grated Parmesan cheese.