Can I wear my Airborne and Air-Assault badges while in basic training?

Damn right you wear them. You earned them and they’re part of your uniform now.

You earned them, wear them proudly (if you WANT). You totally will be treated different, but not for the worse. When I went though, there were a few guys who came back after a while and they were actually pretty cool with them. The Drills know that you have done this before and won't treat you like a PVT. That being said, if you mess something up I'm sure they'll get on you harder because "you should know better".
It's up to you, I'm sure at first they'll give you crap about it but after all is said and done that will be the most of it.

Seeing a bit of back and forth on this one. Maybe a better question you should be asking is "should I ..." This is a decision no one but SPC (Join to see) can answer. Might I offer an option other than either or? Maybe during your time in basic you acquire and install these badges earned in prior service on your service uniform and not the uniform worn day-to-day during this time. You will still attract attention, but maybe not as much. Especially from the drills in other companies.

If your confident you can knock it out of the park then I'd say wear the badges knowing that more will be expected of you. Either way be humble. Definitely wear them in your dress uniform at graduation.

Proudly.

Hell, wear them. Granted, you will draw the eyes of the Drill Sergeants. But you hard earned those wings.

When I went through basic (1968) we had a prior service soldier who was a 'Nam vet. He had his head on straight and the drills treated him with the respect that he had earned. My suggestion is to fore go wearing your skill identifier badges until 1.) graduation or 2.) the drills chew your a$$ for being out of uniform...

It depends. Do YOU want to stand out? If yes, than go ahead but be prepared for some envy (and undeserved harassment) from cadre who think you're just showing off. If no, doing your best in what you could call "a refresher course" will eventually lead to you standing out regardless. I already had earned a Marksman badge with the M-1 Garand in ROTC when I enlisted. I didn't put it on until the mid-cycle inspection. Two weeks lated, I qualified Sharpshooter with the M-14. I was lucky, none of the cadre felt the need to harass me.
Being prior service has both its pros and cons. Oftentimes, it depends on where you are and who the people training are. If you want to be in the front of the formation rather than in the rear eating everybody else's dust, it might help if you "accidentally" show that you already know how to march, the manual of arms and so forth. Just don't be arrogant about it. Also, if you feel comfortable with your drill sergeants, I would recommend that you ask them if it would bother them if you wore your jump wings and air assault badge.
Buena suerte.

I'm on the verge of returning to service myself. No, I will not be wearing my 3rd ID deployment patch, nor my CAB while in Basic. I also look ten years younger than my actual age. These will help me to not stand out.

Was in an OCS class with several other prior service. We all agreed to now tip our hand early in the program. Finally forced it at the first uniform inspection. Some retaliation (although it would have happened with any excuse). but worked out well for us. head down, mouth shut, ears open.