
Salve. Mi chiamo Inigo Montoya. Tu hai ucciso mio padre. Preparati a morire.
/'salve mi 'kjaːmo i'niːgo mon'tɔːja tu ai ut'tʃiːzo mio̯ 'padre pre'parati a mo'riːre/
hello 1SG.REFL call.1SG Inigo Montoya 2SG kill.PAST.2SG my.M father prepare.IMP+2SG.REFL to die
I will include an explanation.
"Piacere" would be okay in place of "salve", but since it means "nice to meet you", I just find it a bit unnatural when said to someone you're about to kill. So I went for a more formal version of "hello".
"Il mio nome è" is also unnatural, although correct and sometimes used in badly translated movies. The "normal" way to say this in Italian is "mi chiamo".
"Uccideva mio padre" is plain wrong, because it's a continuous tense and it just makes no sense whatsoever here. I went for "Tu hai ucciso mio padre", dropping the formality of the 3sg - since you're about to kill someone, it would be, once more, unnatural - and adding an explicit subject, which slightly emphasizes the fact that the listener is, in fact, the killer.
"Preparati a morire" is just the 2sg (informal) version of "Si prepari a morire".
Here's a translation in my regional language as well:

Sciâvo. A-m ciâm Inîgo Montôya. Tè t'ě quàl ch'l'à mazê mě pêder. Parpêr-et a murîr.
/'stʃaːvo am tʃaːm i'niːgo mon'tɔːja tε te(ː) kwɐl kla mɐ's̪εː meː pεːder pɐr'pεːret a mʊ'riːr/
hello 1SG.REFL call.1SG Inigo Montoya 2SG.TON be.2SG the_one who+kill.3SG.PAST my father prepare.IMP+2SG.REFL to die