A method and system for amplifying optical signals includes generating idler signals for input signals using a pump signal at a first non-linear element (NLE). Phase and amplitude regulation is performed using the output from the first NLE. Optical power monitoring of the input signals may be used for power equalization. The phase regulation may use input from a feed forward phase-power monitoring of the output phase-sensitive amplified signal. After phase regulation the phase-sensitive amplified signal is generated at a second NLE using the pump signal. Optical power monitoring of the input signals may be used for power equalization and other control functions to achieve low-noise operation.