Combine first 4 ingredients in a large saucepan; bring to a boil. Cover, reduce heat, and simmer 15 minutes or until tender. Add tomatoes and 1 1/2 teaspoons pepper sauce; simmer 5 minutes or until tomatoes are tender. Drain black-eyed pea mixture in a colander over a bowl, reserving 2 tablespoons cooking liquid. Discard bay leaves.
Combine black-eyed pea mixture, pasta, onions, parsley, and prosciutto in a large bowl. Combine reserved cooking liquid, 1/4 cup pepper sauce, and remaining ingredients in a small bowl, and stir well with a whisk. Pour chile mixture over pasta mixture, and toss well. Serve warm or at room temperature.