1. Cook pasta according to package directions; drain. Keep warm.
2. Cook bacon according to package directions; drain well, and crumble.
3. Beat cream cheese, butter, and Italian seasoning in a medium-size microwave-safe bowl at low speed with an electric mixer until smooth. Gradually add milk, beating until mixture is smooth.
4. Microwave cream cheese mixture at HIGH 3 minutes or until thoroughly heated, whisking every 30 seconds. Pour cream cheese mixture over warm pasta, tossing to coat. Top with crumbled bacon and 1/2 cup grated Parmesan cheese.
Lightened Bacon Bow Tie Pasta: Substitute reduced-fat or turkey bacon, 1/3-less-fat cream cheese, and 2% reduced-fat milk. Proceed as directed.