Preheat oven to 400 degrees. Line a large baking sheet with parchment paper.
For the meatballs, combine chicken, egg, bread crumbs, Parmesan cheese and spices in a large bowl and mix well. Mix in olive oil, as needed, so that mixture comes together and can be formed into balls.
Shape meat mixture into balls and place on prepared baking sheet. Bake for 20-25 minutes, or until browned and cooked through.
While meatballs cook, make the sauce: in a large saute pan, melt the butter over medium heat. Add the garlic and spices and cook for 1-2 minutes.
Add the tomato sauce and bring mixture to a simmer. Simmer for about 10 minutes, stirring occasionally.
Add the cooked meatballs to the sauce and continue simmering for 10-15 mintues longer.
Gently stir in the heavy cream and return to a simmer. Stir in the lime juice and fresh cilantro just before serving. Serve over hot cooked rice, if desired.