Heat oven to 350°F. Spray 12-inch fluted tube pan with cooking spray.
In medium microwavable bowl, microwave butter and syrup uncovered on High 45 to 60 seconds or until hot. Stir in brown sugar and red pepper until dissolved. Stir in bacon. Evenly spoon half of mixture into pan.
Unroll each can of dough into 1 large rectangle; if using crescent roll dough, press perforations to seal. Cut each rectangle into 8 rows by 3 rows, to make 24 pieces per rectangle (120 pieces of dough total). Roll each piece of dough into a ball. Arrange half of balls over butter mixture in pan. Spoon remaining butter mixture over balls and top with remaining balls.
Bake 35 to 40 minutes or until deep golden brown. Cool in pan 5 minutes. Place heatproof serving plate over pan; carefully turn plate and pan over. Remove pan. Let cool 15 minutes before serving. Serve warm.