Preheat broiler. Lightly coat the red peppers with olive oil. Grill peppers under the broiler until the skin is blackened, and the flesh has softened slightly. Place peppers in a paper bag or resealable plastic bag to cool for approximately 45 minutes.
Remove the seeds and skin from the peppers (the skin should come off the peppers easily now). Cut peppers into small pieces.
In a skillet, cook and stir the garlic, basil, and red peppers in 3 tablespoons olive oil over medium heat. Cook for 10 minutes, so that the flavors mix.
Place mixture in blender (careful it is hot), and puree to desired consistency. Return puree to skillet, and reheat to a boil. Stir in the half-and-half and the Romano cheese; cook and stir until the cheese melts. Add the butter, and stir until melted. Season with salt and pepper to taste. Simmer for 5 minutes.