Preheat oven to 400 degrees. Lightly spray a 9x13 pan or four sided baking sheet with nonstick cooking spray.
In a medium-size mixing bowl, combine ground beef, onion, jalapenos, bread crumbs, cheddar cheese, milk, Worcestershire sauce, basil, and salt. Mix thoroughly until ingredients are evenly distributed.
Shape into 20 roughly shaped meatballs. Divide the cream cheese into 20 tablespoon-sized pieces, one for each meatball. Working one at a time, take a meatball and flatten it in the palm of your hand. Place a piece of cream cheese in the center and wrap the meatball around the cheese, sealing it inside the middle.
Place the fully shaped meatballs into the prepared baking pan.
Cook in the preheated oven for 25-30 minutes. Serve hot.