Similar situation here. I'm afraid you'll have to go for the painful way of converting your FAA license. That is, passing all the 14 ATPL theory exams, a CPL and IR skill test (unless you have 1500 hrs multi-pilot) = lots of time staring at books and lots of money.
Why would you wanna go to Italy anyway? There are still some regionals who are hiring in the States. Since you live in PA, why don't you try Chautaqua - we have a base in Philly and we're supposed to start hiring soon.
Good luck.
PEACE