Heat oven to 425°F with a sheet pan on the center rack.
Brush both tortillas lightly with olive oil.
Place one tortilla, oiled side down, on parchment. Sprinkle a small handful of mozzarella on top.
Set the second tortilla over it, oiled side up, and press to adhere.
Slide tortillas on the hot pan and bake until lightly golden, 3–4 minutes.
Spread pizza sauce over the top, leaving a small border.
Top with remaining mozzarella and pepperoni. Sprinkle Parmesan, oregano, garlic powder, and red pepper flakes.
Bake until cheese melts and edges crisp, 7–9 minutes. Broil 1 minute if you want extra char.
Rest 2 minutes, then scatter basil, slice, and serve hot.