Preheat the oven to 350° F. Line the bottom of the broiler pan with foil for easy cleanup. Pour the milk over the bread, allowing it to soak in for several minutes. Place the ground beef, milk-soaked bread, Parmesan cheese, salt, pepper, and parsley in a large mixing bowl. Pour in beaten eggs. With clean hands, mix the ingredients until combined. Form the mixture into a loaf shape on the broiler pan. Lay bacon slices over the top, tucking ends under the meatloaf. To make the sauce, combine ketchup, brown sugar, mustard, and hot sauce in a mixing bowl. Spread ⅓ of the mixture over the top of the bacon. Bake for 45 minutes. Remove from the oven and spread ⅓ of the sauce over the top. Return to the oven and bake for 15 additional minutes. Slice and serve with the remaining sauce.