In a large skillet, add 2 tablespoons of the butter and all of the bacon and cook until the bacon is crisp to your liking. Using a slotted spoon, transfer the cooked bacon crumbles to a paper plate covered with paper towels. Set aside.
In a large saucepan, add the remaining vegan butter and garlic over medium heat. Sauté garlic for 1-2 minutes, until butter is just melted. Sprinkle flour into the pan and stir just until the flour is incorporated into the butter. Slowly add in the coconut milk and chicken stock; use a whisk to stir away clumps and combine ingredients. Whisk until the mixture comes to a low boil then starts to thicken a bit. Add two tablespoons of hot starchy pasta water (the water from the pot in which you cooked the pasta) and continue to stir continuously for another minute. The sauce will continue to thicken, so it shouldn't be super thick yet at this point, but it should be thicker than when you started stirring the liquid.
Remove from heat and immediately stir in the nutritional yeast flakes. Stir until the flakes have melted. Add the frozen peas and the cooked pasta to the pan and gently toss together with the sauce, coating all of the pasta evenly. The peas should cook in about 1 to 2 minutes and will be a bright green when cooked. Season with salt and pepper to taste. Garnish with freshly chopped basil.
Notes
How to store leftovers: store any leftovers in an airtight container in the refrigerator for up to four (4) days. Or, store in a freezer-safe container for up to one month.To make this non dairy-free: If you don't need or want this dish to be dairy-free, you can use regular half and half or heavy whipping cream instead of coconut milk. Instead of nutritional yeast, you can substitute grated parmesan cheese. To make this in the Instant Pot or Ninja Foodi: Omit the flour; you won't need it if you are making this in an electric pressure cooker.
Set your pressure cooker to SAUTÉ and sauté the butter and bacon for 3 to 4 minutes. Transfer to a plate covered with paper towels and set aside.
Add the onion and garlic to the pot and sauté for 1 to 2 minutes. Pour some chicken broth into the pot and scrape up any browned bits.
Place the pasta in the pot, breaking in half if you need to, and overlapping in criss-cross pattern. Pour the remaining chicken broth over the pasta and gently submerge pasta in the liquid as much as possible.
Assemble the pressure lid, making sure the valve is set to Seal/Sealing, then select Pressure Cook/Pressure/Manual (depending on your pressure cooker), set to HI, and set the time for 3 minutes, then start.
When cooking is complete, natural release for 5 minutes, then move the valve from seal/sealing to Vent/Venting for quick release.
Open the lid and stir in the coconut milk, nutritional yeast, peas. Season with salt and pepper. Serve and top with the cooked bacon crumbles and chopped basil.