01 - Bring a large pot of salted water to a rolling boil. Add the pasta and cook according to package directions until al dente. Reserve 1/2 cup of the pasta cooking water before draining in a colander.
02 - While the pasta cooks, melt the butter with the olive oil in a large skillet over medium heat. Add the thinly sliced onions and sprinkle evenly with the sugar and salt.
03 - Cook the onions, stirring frequently, for 25 to 30 minutes until they turn a deep golden brown. If the onions begin to stick to the pan, add a splash of water to deglaze and continue cooking.
04 - Stir the minced garlic into the caramelized onions and cook for 1 minute until fragrant.
05 - Reduce the heat to low and pour in the heavy cream and whole milk, stirring to combine. Add the grated Parmesan cheese, black pepper, and nutmeg if using. Simmer gently for 2 to 3 minutes until the sauce thickens slightly. Season with salt to taste.
06 - Transfer the drained pasta to the skillet and toss thoroughly to coat. Add the reserved pasta water a little at a time until the sauce reaches a silky, creamy consistency that clings to each strand.
07 - Plate immediately and finish with chopped fresh parsley and an extra sprinkling of grated Parmesan cheese.