Cook pasta according to package directions, omitting salt and fat. Add asparagus and peas during the last minute of cooking. Drain; place in a large bowl.
Heat oil in a large nonstick skillet coated with cooking spray over medium-high heat. Add bell pepper, onion, and garlic; sauté 5 minutes. Add tomatoes; sauté 1 minute. Stir in broth, whipping cream, salt, and red pepper; cook 2 minutes or until thoroughly heated.
Add tomato mixture to pasta mixture; toss to coat. Sprinkle with cheese and basil. Serve immediately.