In a large, deep skillet set over moderate heat, heat the oil. Add the peppers and salt and pepper to taste, and fry, turning frequently, until the peppers are browned and soft. As the peppers soften, gently crush them into the oil with the back of a large spoon and continue to fry until they're very soft, 6 to 8 minutes. Transfer the peppers to a bowl and let them cool to room temperature. Season with additional salt and pepper and, if desired, drizzle with extra-virgin olive oil.
Split the loaf in half lengthwise leaving one side hinged, and remove some of the inner crumb. Spoon the peppers with some of their liquid onto the Italian loaf and cut into 4 sandwiches.