In large non-stick skillet, cook potatoes, onion, and peppers in oil over medium-high heat 5 minutes, stirring constantly. Add SPAM; cook and stir 5 minutes. In small bowl, combine egg product, basil, salt, pepper, and hot pepper sauce; blend well. Pour over mixture in skillet. Cover. Cook over medium-low heat 8-12 minutes or until set. Sprinkle with cheese; remove from heat.