Cook and drain pasta as directed on package. Rinse with cold water to cool; drain.
In 3- or 4-quart clear bowl, layer 4 cups pasta, 1 tablespoon of the seasoning, the red bell pepper, tomatoes, green bell pepper, remaining pasta, remaining 1 tablespoon seasoning, the pepperoni, mozzarella, onions and olives.
Pour dressing over salad; sprinkle with Parmesan cheese. Refrigerate 2 hours. Stir just before serving.