Cook the pasta al dente. Bring a large pot of salted water to boil. Add the pasta and cook according to package directions for al dente. In the last minute of cooking time, toss in the frozen peas. Drain the peas and pasta. If they're done before the sauce is completed, toss with olive oil to prevent sticking.
Meanwhile, prepare the sauce. In a large saute pan, heat the oil over medium heat. Add the pancetta and cook until lightly browned, about 3 minutes. Remove to a plate.
Add the garlic and saute until fragrant, about 1 minute. Add the chicken broth, using a spatula or wooden spoon to scrape up any crispy bits from the bottom of the pan. Stir in the cream, and bring the mixture to a simmer, stirring occasionally. Continue to cook at a gentle simmer until the sauce is slightly thickened. Stir in the Parmesan, allowing to melt completely. Season to taste with salt and pepper, as needed.
Stir the pasta and peas into the cream sauce, stirring to coat. Serve immediately with extra Parmesan and fresh cracked pepper if desired.