Combine bell pepper, broth, oregano, salt, and pepper in 2 quart saucepan. Cover. Cook over medium low heat for 20 minutes, stirring occasionally, until bell pepper is tender.
Stir in tomato paste, vinegar, and honey; remove from heat. Puree mixture in a blender or food processor.
Meanwhile, cook pasta as directed on package. Drain.
Mix together pasta, red pepper sauce, peas, and parsley.