Pierce potato in several places with a fork; microwave on high power until tender, turning over once, about 5 minutes. Allow to cool; peel and mash.
Meanwhile, coat a large saucepan with cooking spray. Add celery, onion, corn and red pepper; sauté over medium-high heat for 5 minutes.
Stir bacon and milk into saucepan; stir in mashed potato and mix well. Season with salt, pepper and hot pepper sauce; stir to combine. Cover and simmer 10 minutes (do not allow to boil). Yields about 1 1/2 cups per serving.
Feel free to substitute your favorite fresh vegetables like asparagus and broccoli for the red pepper. Or to save time, substitute 2 cups of frozen corn and 1 cup of frozen, diced bell pepper for the fresh corn and red pepper.