1. Coat a nonstick skillet with cooking spray; add oil. Place over medium heat until hot. Add red bell pepper and garlic; cook, uncovered, 30 minutes, stirring occasionally. Set aside, and cool slightly.
2. Place pepper mixture in container of an electric blender or food processor; add chopped basil and next 3 ingredients. Cover and process until smooth, stopping once to scrape down sides. For each serving, top 1 cup pasta with 1/4 cup pepper sauce. Garnish, if desired. Serve immediately.