1. Soak wood chips in water 30 minutes; drain. Coat cold grill grate with cooking spray. Light 1 side of grill, heating to 400° to 500° (high); leave other side unlit. Place wood chips in center of a 12-inch square piece of heavy-duty aluminum foil; wrap to form a packet. Pierce several holes in packet; place directly over heat.
2. Combine peas and next 4 ingredients in a 13- x 9-inch disposable aluminum foil pan. Place peas over unlit side of grill, and grill, covered with grill lid, 1 hour or until tender, stirring occasionally. Drain peas, reserving 3/4 cup cooking liquid. Discard garlic bulb, thyme, and bay leaf.
3. Halve tomatoes, and grill, covered with grill lid, 2 minutes on each side. Cool 10 minutes. Discard skins; chop tomatoes.
4. Cook bacon in a large saucepan over medium heat, stirring often, 4 minutes or until crisp. Reserve 2 Tbsp. drippings in saucepan. Add chopped garlic; sauté 30 seconds. Stir in tomatoes, molasses, and next 2 ingredients; bring to a simmer. Reduce heat to low, and simmer, stirring often, 5 minutes. Stir peas, salt, pepper, and 3/4 cup reserved cooking liquid into tomato mixture; cook, stirring often, 10 minutes or until slightly thickened. Adjust seasoning with more vinegar, molasses, salt, and pepper, if desired.