Carlo was born in Buffalo, New York. She made her Broadway debut in 1983, appearing alongside Kate Nelligan as Louise in David Hare's Plenty. In 1991, she returned to Broadway for Richard Jones' La Bête. She was commissioned by the Whitney Museum to write, direct and perform in the musical It's Still Life, which went on to tour in India and Morocco. She has also written and acted in several performance pieces.
Carlo has also been seen in the TV shows Crime Story (1986), Law & Order (1991, 1997) and Chicago Hope (1995). She had a recurring role on The Sopranos (1999) as Bonnie DiCaprio.
Carlo's film debut was in 1989 as a performance Artist in Merchant Ivory's Slaves of New York, singing "Say Hi to Your Guy", a song she wrote, with Michael Butler. She appeared in Reversal of Fortune (1990), Quiz Show (1994), Looking for Richard (1996), and Happiness (1998).
