Heat 2 tablespoons of olive oil in the pan over medium-high heat. Add the diced pancetta and stir briefly to coat in the oil. (If using a stainless steel pan, set the heat to just past medium.)
Stir in the onions and cook until soft and limp, stirring occasionally to prevent sticking. It could take about 10 minutes.
Add the frozen peas, salt and black pepper to the pan and stir together. Cover and cook on low, stirring occasionally, for 10-15 minutes, or until the peas are cooked to your liking. Stir in red pepper flakes, if using.
Store leftovers in a sealed container in the refrigerator for up to four days.
If Using Bacon
Slice onions and set aside. Cut raw bacon into pieces (kitchen scissors work well.) In a 12-inch skillet, heat a drop of oil and add the bacon to the pan. Partially cook the bacon on medium high, until the bacon grease is released.
Add the onions and the rest of the tablespoon of olive oil to the pan and stir to mix with the bacon. Cook, stirring occasionally, until the onions are soft (about 10 minutes).
Add the frozen peas, salt and black pepper to the pan and stir together. Cover and cook on low, stirring occasionally, for 10-15 minutes, or until the peas are cooked to your liking. Stir in red pepper flakes, if using.
Notes
Look for a package of diced pancetta (Citterio brand, for example) in the gourmet deli section of your grocery store. You also could purchase pancetta from the deli counter and dice it yourself.You can skip the meat for a vegan option, which we usually do. See the article that goes with this post for additional tips and information.