Slit shrimp up back with sharp knife. Devein, but do not peel. Combine 2c oil and red pepper in heavy skillet. Heat slowly. Cook gently until peppers are tender, but not at all browned. (Oil will turn rosey.) Set peppers aside. Pour remaining oil into another skillet with garlic. Stew gently for 4-5 minutes, until golden and tender. Scoop out and add to peppers. Heat garlic oil until it ripples. Add chili and shrimp. Saute, tossing, until pink and just done. Spoon peppers and their oil into serving dish. Surround with shrimp. Serve with bread. Each diner soaks slices of bread in oil, piles it with peppers, garlic, cheese, and shrimp.