Start by bringing a pot of salted water to a boil. Add the orzo or rice and cook according to package instructions until tender. Drain and set aside.
While the orzo or rice is cooking, season the chicken breast or cutlets with salt, pepper, and Italian seasoning. Heat the olive oil in a large skillet over medium heat.
Add the chicken to the skillet and cook for about 5-7 minutes per side, or until the chicken is golden brown and cooked through. Remove the chicken from the skillet and set aside.
In the same skillet, melt the butter over medium heat. Add the finely diced red bell pepper and sauté until soft, about 3-4 minutes. Pour in the chicken broth, milk, and half and half, stirring to combine.
Let the sauce simmer for a few minutes until it begins to thicken. Stir in the shredded Parmesan cheese and fresh basil, allowing the cheese to melt into the sauce.
Return the chicken to the skillet, coating it with the creamy sauce. Allow it to simmer for another minute to heat through. Serve the chicken over the cooked orzo or rice, spooning extra sauce on top.