Spread breadcrumbs on a plate or in a shallow dish and set aside.
Saute onion and red peppers in 2 tablespoons of olive oil until tender. Let cool.
In a large bowl, mix crabmeat, onion/pepper mixture, egg, mayonaise, Old Bay seasoning, Tabasco, mustard and juice of one lemon together. Gently fold in Ritz crackers and parsley. The mixture will be loose.
Using a 1/2 cup measure (for entree-sized crab cakes) or a tablespoon (for appetizer-sized crab cakes), gently form patties. Dredge patties in breadcrumbs. Place on baking sheet and chill in the refrigerator for at least 30 minutes -- preferably at least an hour if you have time.
Heat olive oil in a heavy skillet until hot but not smoking. In batches, fry crab cakes 3-4 minutes on each side until golden brown. Do not crowd! Drain on a plate lined with paper towels and keep warm in a 250 degree oven until ready to serve.
Serve with either cocktail sauce or (my favorite) homemade remoulade sauce and lemon slices.
These are yummy for dinner with a green salad or burger-style on a toasted English Muffin with lettuce and remoulade sauce.