In a large saucepan, melt butter over medium heat. Add onion, celery, and garlic, and cook for 5 minutes, or until tender. Stir in rice and cook, stirring frequently, for 5 minutes, or until lightly browned. Stir in wine; cook until wine is absorbed, stirring frequently. Reduce heat to medium low, and stir in black-eyed peas. Add 1 cup warm chicken broth; cook, stirring constantly, until liquid is absorbed
Repeat procedure with remaining chicken broth, 1 cup at a time, allowing liquid to be absorbed after each addition, stirring constantly. Remove from heat and stir in salt, crushed red pepper flakes, and bacon.
Garnish with fresh parsley and crumbled bacon, if desired. Serve immediately.