Heat oven to 350°F. Line cookie sheet with foil. Place wire rack on foil.
In large resealable food-storage plastic bag, add brown sugar and peppers; shake to mix. Separate bacon slices, and place in bag; shake to coat.
Arrange bacon in single layer on rack. Bake 20 minutes.
Turn bacon over; brush with brown sugar mixture. Bake 10 to 15 minutes longer or until golden brown. Remove from rack. Cool completely, about 15 minutes.