In a large saucepan cook bacon over medium heat until crisp. Drain, reserving 1 tablespoon of the bacon drippings in saucepan. Set bacon aside. Cook onion in reserved drippings until tender. Add rice; cook and stir for 2 minutes more. Carefully stir in broth and wine. Bring to boiling; reduce heat. Simmer, covered, about 20 minutes or until liquid is absorbed. Remove saucepan from heat. Stir in bacon and peas. Let stand, covered, for 5 minutes. Stir in cheese. If desired, season to taste with salt and black pepper.
Meanwhile, cut tops off small peppers or halve large peppers lengthwise. Remove membranes and seeds.
Preheat oven to 375 degrees F. Spoon risotto mixture into peppers. Place in a shallow baking dish. Cover with foil.
Bake peppers, covered, for 30 to 45 minutes or until heated through. If desired, sprinkle with basil.