Set the smoker to 275F using wood chips of choice.
In a small bowl, mix together the ground beef, oregano, basil, thyme, garlic powder, salt, black pepper, egg, bread crumbs and milk until thoroughly combined.
Grab a small handful of the meat mixture and form a meatball that is about 1 1/2 inches in size. Place the meatball on the smoking rack. Do this with the remaining beef mixture.
Place the smoking rack in the smoker and smoke the meatballs until they reach an internal temperature of 165F, about 2 1/2 hours.
In a saucepan, heat the oil on medium heat. Add the shallots and yellow pepper. Cook, stirring often for a few minutes.
Stir in the can of diced tomatoes. Bring to a boil and then lower heat to a simmer.
Let the sauce simmer for 10 minutes.
Stir in the cream and parmesan cheese. Simmer for another 3-5 minutes. Remove from heat and stir in the basil, salt and pepper.
Cook pasta according to package directions. Strain the pasta and toss with the sauce.