01 - Cook fettuccine in large pot of salted boiling water until al dente. Reserve 1/2 cup pasta water before draining.
02 - Heat olive oil and butter in large skillet over medium heat. Add sliced onions and salt. Cook stirring occasionally until softened and lightly browned, approximately 10 minutes.
03 - Sprinkle brown sugar over onions. Continue cooking stirring frequently until deeply caramelized and golden, 15-20 additional minutes.
04 - Add minced garlic and chopped red chili to caramelized onions. Sauté 1-2 minutes until fragrant.
05 - Stir in honey, heavy cream, Parmesan, red pepper flakes, and black pepper. Simmer gently 2-3 minutes until slightly thickened.
06 - Add cooked fettuccine to skillet. Toss thoroughly to coat, adding reserved pasta water one tablespoon at a time to achieve desired consistency. Adjust seasoning as needed and serve hot, garnished with fresh parsley and extra Parmesan.