In a large nonstick skillet, heat 2 teaspoons oil over medium heat. Add polenta; cook 9-11 minutes on each side or until golden brown. Keep warm.
Meanwhile, in another large skillet, heat remaining oil over medium-high heat. Add peppers and onion; cook and stir until tender. Remove from pan.
Add sausages to same pan; cook and stir 4-5 minutes or until browned. Return pepper mixture to pan; heat through. Serve with polenta; sprinkle with cheese and basil.
