Facinelli will star as "a successful pickpocket living the outlaw lifestyle until confronted with an old one-night stand who tells him that she's pregnant with his child." If the IMDb cast list is right, it looks like the one-night stand could be played by his real-life wife Jennie Garth. As for Madsen and Gallo, there's no word on what sort of characters they'll play, but considering the subject matter, I think it's fair to say that they're a part of the pickpocket's "outlaw lifestyle."
Since this is Facinelli's first screenplay, there's no telling how this will play out, but I'm digging the idea of an actor writing himself a role to help fight against typecasting, which is what this should do if the flick makes its way into the public consciousness. Really, for most people he'll remain the tow-headed vamp with the weird accent if he doesn't, and unless Stephenie Meyer starts writing the Carlisle Chronicles, that gig won't get him too far.