Combine crackers and butter. Press evenly onto bottoms of 48 each 3-inch spring form pans. Bake at 300°F for 10 min. Cool on wire rack while preparing filling.
Place cream cheese and ricotta cheese in 12-quart bowl of electric mixer fitted with paddle attachment. Beat on medium speed until well blended. Add cheese, pesto and peppers; mix well. Add eggs, 1 at a time, mixing on low speed after each addition just until blended. Pour about 3-1/2 oz. of the cream cheese mixture over each crust.
Bake at 300°F for 30-40 min. or until centers are almost set. Run thin metal spatula around rims of pans to loosen cakes. Refrigerate several hours or overnight. Let stand at room temperature 15 minutes before unmolding and serving.