In large, deep skillet, cook sausage over moderate heat until brown, about 8 minutes. Add onion and crushed red pepper, season with salt and cook, stirring occasionally, until onion is golden, about 10 minutes. Add garlic and cook until fragrant, about 1 minute.
Carefully add vodka and cook, scraping up any browned bits at the bottom of the skillet. Add tomatoes with their juices and bring to a boil. Cover and simmer over moderate heat, stirring occasionally, until tomatoes start to break down, about 10 minutes. Uncover and simmer until reduced slightly, about 5 minutes longer.
Stir in cream and peas and cook, stirring occasionally, until sauce is slightly thickened, about 5 minutes. Stir in basil and season with salt and pepper.
Meanwhile, in large pot of boiling salted water, cook farfalle until al dente. Drain pasta, reserving 1/4 cup of the cooking water. Add farfalle to the skillet along with reserved cooking water and cook over moderate heat, stirring, until pasta is coated, 1-2 minutes.
Serve immediately with parmigiano-reggiano.