Cut peppers in half lengthwise; remove and discard seeds, stems, and membranes. Flatten pepper halves with palm of hand; place, skin sides up, on a baking sheet. Broil 5 1/2 inches from heat (with electric oven door partially opened) 15 to 20 minutes or until skins are charred. Place in ice water until cool; peel and discard skins.
Place red peppers in container of an electric blender; cover and process until smooth, stopping once to scrape down sides. Place puree in a small saucepan; bring to a boil. Reduce heat, and simmer 8 to 10 minutes or until thickened and the consistency of tomato paste. Repeat procedure with yellow peppers.
Pat dough into a 12-inch pizza pan coated with cooking spray. Bake at 425° on bottom rack of oven for 8 minutes.
Spread pesto sauce over crust, leaving a 1/2-inch border. Spoon red pepper paste over half of crust; spoon yellow pepper paste over other half of crust. Sprinkle with cheese. Bake at 425° on bottom rack of oven for 12 to 14 minutes or until crust is lightly browned. Let stand 10 minutes before serving.