In a large skillet, cook chopped bacon until golden and crisp. Scoop bacon to a paper-towel lined plate and discard all the bacon grease except for a thin coating on the pan, maybe a tsp or so. Add corn, onion, and red pepper, and cook over medium heat, stirring until vegetables are tender and corn is heated through, 6-8 minutes. Add cream cheese and milk, stirring until cream cheese melts and mixture is evenly combined. Stir in sugar, salt and pepper. Add more salt to taste if needed. Stir in green onions. Serve warm topped with the reserved bacon.