Would really appriciate if someone comes up with a reliable solution to bring back Alt+Tab within the Ubuntu VM ...
I would also like to find a way to use alt-tab.
I haven't updated to Parallels 15 yet (although it is a relief to see that they support modern Linux kernels ootb now), but I have the exact same issue with my Fedora 30 and Ubuntu 19.04 VMs running in Parallels 14.
I played around with the Parallels keyboard shortcuts as well as Gnome keyboard mappings. Nothing made a difference. Another data point: alt-tab was working in the exact same VM when it was booting Fedora 29. I created the Ubuntu 19 VM brand new. Alt-tab _is_ working in my Ubuntu 18.04 VM.. So I assumed it had something to do with the Gnome update in the newer distros, but your experience suggests that it's more complicated than that.
-Shawn