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HEAT oven to 450ºF.
SPREAD peppers onto bottom of rimmed baking sheet sprayed with cooking spray. Bake 20 min. or until tender. Meanwhile, cook pasta in large saucepan as directed on package, omitting salt.
REMOVE peppers from oven. Reduce oven temperature to 375ºF. Drain pasta; return to saucepan. Add spaghetti sauce, 1/4 cup basil and peppers; mix lightly.
LAYER half each of the pasta mixture, Italian cheese, mozzarella cheese and Parmesan in 13x9-inch baking dish; repeat layers.
BAKE 25 to 30 min. or until pasta mixture is heated through and top is golden brown. Sprinkle with remaining basil.