Bring a large pot of salted water to a boil. Add the pasta and cook according to package directions, adding the peas during the final 4 minutes of cooking. Reserve 1 cup cooking liquid. Drain the pasta and vegetables; return to pot.
Meanwhile, in medium saucepan, cook the bacon over medium heat until crisp. Drain the bacon on paper towels; reserving 2 teaspoons fat in the saucepan. Whisk in flour. Whisk in the evaporated milk and reserved cooking liquid. Bring to a simmer, whisking occasionally.
In a medium bowl, whisk the eggs, salt and pepper. Slowly whisk in 1 cup of the hot milk mixture; return egg mixture to saucepan. Cook over medium-low heat, stirring constantly, until mixture is thickened and bubbly.
Add the sauce to the pasta. Stir in the Parmesan cheese. Sprinkle with reserved bacon.
