1. Cook pasta in 4 quarts boiling water with 1/4 teaspoon salt for 8 minutes or until noodles are almost al dente. Drain pasta through a sieve over a bowl; reserve 1 1/3 cups pasta cooking water.
2. Heat a large skillet over medium-low heat. Add oil to pan; swirl to coat. Add garlic; cook 2 minutes or until very fragrant and tender, stirring occasionally. Stir in remaining 1/4 teaspoon salt and tomatoes; cook 3 minutes, stirring occasionally. Stir in reserved 1 1/3 cups pasta water; bring to a boil. Add cream cheese; stir until smooth. Add pasta, olives, and red pepper; cook 3 minutes or until pasta is al dente, tossing to coat. Divide pasta mixture among 4 shallow bowls; top each serving with 1 tablespoon basil. Divide Parmigiano-Reggiano evenly among servings.