Heat oil in a large skillet set over medium heat. Add the pancetta or bacon, and sauté for about about 5-7 minutes until beginning to crisp.
Just before the pasta has finished cooking, add the peas to the pasta and cook for 1 minute (optional). Drain pasta with peas, reserving 1 cup of the pasta water. Add pasta to the bacon skillet over low heat. Stir to coat the pasta. Transfer pasta and bacon to a bowl, add the egg mixture and a small amount of the reserved pasta water for creaminess. Toss well to coat. Serve immediately with extra cheese for garnish.
For safe meat preparation, reference the USDA website.