Place fava beans in a large pot of boiling water; cook 1 minute. Drain; rinse with cold water. Drain well. Remove tough outer skins from beans.
Cook pasta according to package directions, omitting salt and fat; drain.
Heat a large nonstick skillet over medium-high heat. Add 1 tablespoon oil to pan; swirl to coat. Add bacon; sauté 3 minutes or until bacon begins to brown. Add onion and garlic; sauté 3 minutes or until vegetables are tender. Add mushrooms; sauté 3 minutes or until mushrooms begin to brown. Add fava beans and peas; sauté 2 minutes. Stir in remaining 1 tablespoon oil, pasta, juice, and salt; cook 2 minutes or until thoroughly heated. Remove pan from heat. Stir in 3 tablespoons cheese. Divide pasta mixture evenly among 4 bowls, and top evenly with remaining 3 tablespoons cheese and basil. Serve immediately.