For the sauce: Set a Dutch oven or large pot over high heat and heat the olive oil. Add the tomatoes, wine, chile flakes and oregano and stir. Bring to a boil, reduce to a simmer, cover and let cook while you make the meatballs.
For the meatballs: Add the bread to a shallow container, cover with the milk and allow the bread to fully absorb it.
Add the beef, parsley, salt, pepper, cumin, egg and garlic to a separate bowl and mix to combine. Break the soaked bread into small pieces, add the pieces to the meat mixture and mix lightly; do not over-mix. Form the mixture into 1-inch ovals.
Add the olive oil to a skillet and set over medium-high heat. Add the meatballs in batches and gently sear on all sides, about 1 minute on each side. Transfer the meatballs from the skillet right into the tomato sauce. When all the meatballs are in the sauce, cover and simmer until the meatballs are cooked through, 15 to 20 minutes.