Bring a pot of water to a boil and then add your elbow macaroni. Cook it according to package instructions until it turns al dente then drain the cooked pasta and set it aside.
In a skillet, heat 2 tablespoon of olive oil over medium heat. Add the sliced red and green peppers and diced onions. Sauté for 5-7 minutes until they are softened. Remove them from the skillet and set aside.
In the same skillet, brown the ground beef over medium-high heat, breaking it up with a wooden spoon or meat masher as it cooks. Season it with salt and pepper. This should take about 5-7 minutes. Be sure to drain any excess grease.
Return the sautéed vegetables to the skillet with the ground beef and combine. Adjust seasoning with salt and pepper if needed.
Pour in the heavy cream and add ½ cup grated Parmesan cheese and ½ cup of mozzarella cheese. Stir to combine. Reduce the heat to medium-low and simmer for 5-7 minutes, stirring occasionally, until the mixture starts to thicken.
Add the cooked and drained pasta to the creamy sauce. Gently stir to combine all the ingredients and then sprinkle the remaining 1 cup of shredded mozzarella cheese over the top of the pasta mixture.
Cover the skillet with a lid or aluminum foil and let it sit for 2-3 minutes, or until the mozzarella has melted.
Remove your Easy Philly Cheesesteak Pasta from the heat. Sprinkle chopped fresh parsley over the melted cheese and serve hot.