Over a large pot of boiling water, steam the brussel sprouts until tender (about 8 to 10 minutes).
Cook bacon in a separate pan until crisp. Let it cool, then chop.
Transfer sprouts and half of the bacon to the prepared baking dish and toss with the red pepper flakes, salt and pepper. Spread the sprouts out evenly along the baking dish, cover with the cream, sprinkle with the grated cheese, remaining bacon and Parmesan cheese. Finish by doting top with butter pieces.
Bake until the top bubbling and golden brown (about 15 minutes).