Cook the pasta according to package directions, omitting salt and fat.
Heat oil in a large skillet over medium heat. Add onion, and cook 8 minutes or until tender, stirring frequently. Add bell peppers; cook 2 minutes or until heated through. Increase heat to medium-high. Stir in vinegar; cook 1 minute or until liquid evaporates. Remove from heat; cool 5 minutes.
Place bell pepper mixture in a blender; process until smooth. Return bell pepper mixture to pan; cook over low heat until warm. Combine half-and-half and tomato paste in a small bowl, stirring with a whisk. Stir tomato mixture into bell pepper mixture, stirring with a whisk until well combined. Stir in ground red pepper.
Combine pasta and bell pepper mixture in a large bowl. Add 1/2 cup cheese, tossing to coat. Spoon 1 1/3 cups pasta into each of 6 bowls; top each with about 1 1/2 tablespoons cheese. Garnish with basil, if desired.
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