In a large pot cook pasta in a large amount of generously salted boiling water according to package directions. Drain, reserving 2 cups of the cooking water.
Meanwhile, in an extra-large skillet heat oil over medium heat. Add pepper; cook and stir 20 seconds or until fragrant. Remove from heat. Carefully add 3/4 cup of the reserved cooking water to skillet. Return to heat; bring to boiling.
Add cooked pasta to skillet, tossing with tongs to coat. Gradually add 1 1/2 cups of the cheese, tossing to coat and adding enough of the remaining reserved cooking water to reach a creamy consistency. Season to taste with salt. Top with remaining 1/2 cup cheese and additional pepper.