Preheat oven to 180°C. Heat oil in a large non-stick frying pan over medium heat until sizzling. Add onion and capsicum. Cook for 3 minutes. Add bacon and corn. Cook for a further 2 minutes or until heated through.
Add flour. Cook, stirring, for 1 minute. Combine soup and cream. Stir into vegetable mixture. Bring to the boil. Pour mixture over pasta. Add 3/4 cup cheese. Stir until well combined.
Spoon mixture into a 5.5cm deep, 16.5cm x 24cm (base) ovenproof dish. Top with remaining cheese. Bake for 20 minutes or until golden. Serve.