Preheat oven to 500. In a blender, puree peppers until smooth. Season with salt and pepper. On a floured work surface, roll 2 dough balls into 10-inch rounds. Sprinkle two rimmed baking sheets with cornmeal; place 1 round on each. Top each round with 3 tablespoons red-pepper puree and one-fourth the cheese, leaving a 1-inch border. Drizzle each with 1 1/2 teaspoons oil and season with salt and pepper. Bake until crust is golden brown and cheese is melted and bubbling, about 10 minutes. Transfer pizzas to plates and keep warm.
Wipe sheets clean, sprinkle with cornmeal, and repeat to make 2 more pizzas. In a medium bowl, toss arugula with 2 tablespoons oil; season with salt and pepper. Divide basil among pizzas and top with arugula. Serve with lemon wedges.
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