Which is why the US and UK need to focus HARD on Germany for a few rounds.
To save Russia (and thus take Italy) I like to spend round 1 and 2 in the Pacific and 3 and 4 in the Atlantic (for the US.) That gives you enough time to get your Pacific fleet to the Atlantic the same round you can conduct combat against the Axis. Also, Japan expects you to buy in the Pacific, so you are not giving him a gift, you are just keeping him honest there.
This way, Round 3 you can land in Africa with Round 4 support.
England should be concerned with Aircraft. This is a new position for me. But Fighters can get to Russia to defend if needed, and they can also land to support American invasions. Of course, I think this is the most ridiculous thing in the world, but it’s the rules: America takes Normandy with 12-14 infantry and England drops 6 or 7 fighters there to hold it. (for example.) This has always been the rule, and it’s a great way to exploit it. However, you will be subject to CRD from Germany if you focus hard on planes. (this of course pulls IPC from Germany and won’t last too long once America’s in hard, but still - it may be a concern for you.)
As for Japan, I have found Russian, China, India (remnants) and Australia can usually slow them enough for America to help establish a beach head in Europe. Just an opinion.
So what do you have to do for saving Italy?
I would say having Germany take and Italy reinforce is a major plus. Focus on the Med, but ignore Africa once you have Egypt/Jordan. (Both for the NO and the retreat position - also prevents the Indian fleet from moving in.) I would go heavy Mech/Armor for Italy (with hindsight) so I could race reinforcements to the German front.
Maybe a round 3 invasion of Russia. I honestly do not see how you can take France and get your units in position sooner than that. I could be wrong, maybe a round 2 invasion is the way to go? Hell, maybe a round 1 invasion. Can the Allies defend France enough to prevent a Round 2 sack of Paris if the Axis ignore France round 1? I wouldnt want the planes to escape, but if it means saving 100 IPC in the taking of Moscow (pulled number out of my arse, no idea if it would save/lose anything) it might be worth NOT hitting Paris round 1.
I am, using this arguement, in an effort to take Moscow faster in the hopes that this saves Italy. Maybe not hitting Paris means Italy is in more Jeapordy? Well, if so, then you must do it, right?
No idea. Just some ramblings and thoughts.