Combine the dried peas, bacon, thyme, tomatoes, chiles and garlic in a large pot. Season with salt and pepper and pour the chicken broth over top. Simmer over medium-low heat until the peas are tender, about 1 hour.
Drain the peas, reserving the cooking liquid. Discard the thyme and chiles. Remove the bacon, tomatoes and garlic from the cooked peas and set aside. Cut up the bacon and fold it back into the peas along with the cilantro, scallions and lemon juice.
Puree the cooking liquid with the tomatoes and garlic in a blender. Dress the peas with the puree and give it a final seasoning with salt and pepper, if necessary. Top with cilantro and a drizzle of olive oil.