In a large pot, cook penne pasta according to package directions to al dente. Make sure the water is heavily salted. Make sauce while pasta is cooking.
In a large pan over medium high, heat butter and olive oil until shimmering. Add red pepper flakes and stir about a minute. Add garlic and stir another 30 seconds (do not overcook the garlic). Add vodka and simmer 2 minutes.
Add crushed tomatoes, tomato juice, horseradish, Worcestershire sauce, Tabasco, celery salt, salt, and pepper. Stir and bring to a simmer. Simmer 5 minutes.
Reduce heat to low and add cream. Stir well until fully combined. Add the fresh squeezed lime juice and stir. Pour over al dente penne pasta and garnish with fresh Parmesan cheese and top wtih green olives.