Cut bacon crosswise into thin strips. Cook bacon and onion in large deep skillet over medium heat 5 minutes or until onion is tender.
Add rice; mix well.
Add broth and hot pepper sauce; bring to a boil over high heat. Stir in black-eyed peas. Cover; reduce heat and simmer 10 minutes or until most of liquid is absorbed. Stir in tomato; heat through.
Remove from heat; stir in 1 cup cheese.
Transfer to 4 serving plates; top with remaining cheese and parsley.