Melt butter in medium saucepan on low heat. Stir in flour and ground red pepper; cook 2 min. or until hot and bubbly, stirring frequently. Gradually stir in milk; cook on medium heat until mixture boils and thickens, stirring constantly. Simmer on medium-low heat 3 min., stirring constantly. Remove from heat. Stir in Parmesan.
Heat oil in large skillet on medium-high heat. Add vegetables and garlic; cook and stir 4 to 5 min. or until crisp-tender. Remove from heat. Combine ricotta and basil.
Spread 1/4 cup Parmesan sauce onto bottom of 12x8-inch baking dish sprayed with cooking spray. Cover with layers of 3 noodles, half the ricotta mixture, 1/3 of the vegetable mixture, 3/4 cup of the shredded cheese and 1/3 of the remaining Parmesan sauce. Repeat layers of noodles, ricotta mixture, vegetable mixture, shredded cheese and Parmesan sauce. Top with layers of remaining noodles, Parmesan sauce, vegetable mixture and shredded cheese; cover.
Bake 1 hour or until heated through, uncovering for the last 5 min.