Preheat oven to 400 degrees F.
In a large bowl, mix together ground beef, onion, breadcrumbs, garlic, egg, parmesan cheese, tomato paste, salt, pepper and parsley until well combined. Shape mixture into 1-inch balls (you'll make roughly 30 balls) and place spaced apart on prepared baking sheets lightly sprayed with cooking spray.
Bake meatballs for 20 to 25 minutes, or until browned and cooked through.
While the meatballs are baking, whisk together orange juice and honey in a small saucepan over medium heat until the honey dissolves. Add cranberries and cook for about 10 minutes, until the berries start to pop, then reduce heat and add chili sauce, orange zest and cayenne pepper, cooking an additional 10 to 15 minutes. Feel free to mash the cranberries with the back of a wooden spoon to achieve a jam-like consistency and add 1/4 cup of water if you like a thinner sauce.
Remove cranberry sauce from heat and season with salt and pepper as needed. Toss sauce with baked meatballs, garnish with fresh parsley and enjoy!