1. A Non-transitory computer implemented method of magnetic resonance imaging (MRI) in an MRI system, comprising: performing a 3D Fourier Transform acquisition with two phase encode directions in the MRI system, wherein phase code locations are chosen so that a total number of phase encodes is less than a Nyquist rate, and closest distances between the phase encode locations, in each of the two phase encode directions, each take on a multiplicity of values; receiving readout signals through a multi-channel array of a plurality of receivers of the MRI system; performing an autocalibrating parallel imaging interpolation for each channel of the multi-channel array in order to reconstruct data; generating a noise correlation between, the reconstructed data of the multi-channel array after performing the autocalibrating parallel imaging interpolation and from the autocalibrating parallel imaging interpolation; using of the noise correlation in order to suppress noise amplified by the autocalibrating parallel imaging by using the noise correlation in order to weight a data consistency term of a compressed sensing iterative reconstruction; creating an image from the autocalibration parallel imaging using the noise-weighted data consistency term on the autocalibrating parallel imaging interpolation; and displaying the image through the MRI system.