The officer was shot in the chest but managed to shoot both suspects several times, police said.
Brancato became friends with Armento over a year ago after he began dating Armento's daughter, said neighbor Paula Izurieta, 25.
Brancato was subsequently acquitted of murder, but he was convicted of first-degree attempted burglary and was sentenced to 10 years in prison.
That’s when he was sentenced to 10 years in prison for his part in a botched 2005 robbery that left police officer Daniel Enchautegui dead in the Bronx.
Although he is of Colombian descent, Brancato has said "I consider myself Italian. Brancato was discovered while swimming at Jones Beach by a talent scout who noticed Brancato's resemblance to Robert De Niro.
Brancato was a fan of De Niro and impressed the scout with an impression of Travis Bickle from Taxi Driver.
The billionaire money manager, who was sentenced to 18 months for soliciting a minor for prostitution, is now working at the office of his non-profit foundation five days as a week as part of a work-release program.
A lawsuit has been filed in New York's Queens Supreme Court accusing jailed actor Lillo Brancato of assaulting a former fellow inmate, documents show.