Bring a large pot of water to a boil. Add the pasta and cook it according to the package directions. Drain the pasta into a colander. Transfer the pasta to a large serving bowl and toss with a dash of olive oil to prevent sticking.

While the pasta cooks, coat the bottom of  a large pot with 2 tablespoons of olive oil and place it over medium heat. When the oil is hot, add the onion and bell pepper and sauté until soft and the onion is translucent, about 5 minutes. Add the garlic and cook about 1 minute more, until very fragrant.

Add the wine, thyme, red pepper flakes, and fennel. Raise heat and bring the mixture to a simmer. Allow to cook until the liquid is reduced by about half, about 5 minutes. Stir in the diced tomatoes and tomato paste. Bring to a simmer and allow to cook for 20 minutes, stirring occasionally. Stir in the coconut milk and sugar. Bring back to a simmer and continue cooking until the sauce thickens up a bit, about 10 minutes more. Taste test and add more red pepper flakes if you like. Season with salt and pepper to taste.

Pour the sauce over the pasta and toss to coat. Divide onto plates and serve.