Heat oil from sun-dried tomatoes in a large Dutch oven over medium heat until shimmering. Add shallot; cook, stirring often, until softened, 2 to 3 minutes. Stir in sun-dried tomatoes and garlic; cook, stirring constantly, until the tomatoes are slightly broken down and deep red in color, about 2 minutes.

Stir in chickpeas, broth, water, paprika, Italian seasoning and ¼ teaspoon crushed red pepper. Bring to a boil over medium heat; cook, uncovered, stirring occasionally, until the chickpeas are warmed through and the mixture is slightly reduced, about 3 minutes. Stir in cream and 1 tablespoon basil; cook until the sauce starts to bubble around the edges. Remove from heat. Gradually stir in ⅓ cup Parmesan until melted and combined, 30 to 45 seconds.

Brush melted butter on cut side of bread pieces. Heat a large cast-iron skillet over medium-low heat. Arrange bread buttered-side down in the pan; cook until golden brown and crisp on the edges.

Top the chickpea mixture with the remaining ⅓ cup Parmesan, 1 tablespoon basil and ¼ teaspoon crushed red pepper. Serve with the toasted bread.