In a large non-slice frying pan over medium heat, warm oil; add the red peppers and yellow peppers; cook stirring frequently for 4 to 5 minutes.
Keep warm over low heat. In a small bowl, lightly whisk together the egg whites, basil and black pepper. Coat a small non-stick frying pan with non-stick spray.
Warm over medium-high heat for 1 minute. Add half of the egg mixture, swirling the pan to evenly coat the bottom.
Cook for 30 seconds or until the eggs are set. Carefully loosen and flip; cook for 1 minute, or until firm.
Sprinkle half of the peppers over the eggs. Fold to enclose the filling. Transfer to a plate. Sprinkle with 1 tsp of the Parmesan cheese.
Repeat with the remaining egg mixture, peppers and 1 tsp Parmesan cheese.