Combine all the meatball ingredients (mixture will be soft). Shape into 80 meatballs (walnut size). Place meatballs in a single layer on wax paper-lined cookie sheets. Freeze until solid. Wrap & store in freezer until ready to use.
Sauce: Combine all sauce ingredients & stir until sugar is dissolved.
To prepare meatballs & sauce: Place frozen meatballs in a single layer in 2 ~ 13 x 9 baking pans. Pour on the sauce. Bake at 350F for 1 hour.