1. Cook peas and asparagus in boiling water for 3 minutes or until asparagus is crisp-tender; drain. Plunge into ice water; drain. Cook pasta according to package directions, omitting salt and fat. Drain pasta in a colander over a bowl, reserving 1/4 cup cooking liquid. Combine pasta and vegetables.
2. Combine cheese and the next 3 ingredients (through eggs) in a bowl, stirring well with a whisk. Gradually add hot cooking liquid to egg mixture, stirring constantly with a whisk. Cook bacon in a large skillet over medium heat until crisp, stirring occasionally. Remove bacon from pan, reserving 1 tablespoon drippings in pan. Add bacon to pasta mixture. Cook bell pepper in drippings for 3 minutes, stirring occasionally. Add pasta mixture; cook 1 minute or until thoroughly heated. Remove pan from heat, and stir in egg mixture. Return pan to low heat; cook for 2 minutes or until sauce thickens slightly, stirring constantly.