Pierce potato in several places with a fork; microwave on high power until tender, turning over once, about 8 minutes.
Allow to cool; peel and mash.
Meanwhile, coat a large saucepan with cooking spray.
Add corn, red pepper, celery and onion; 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; serve garnished with scallions.