Cut the lox into 1/2 inch pieces; if using smoked salmon, break the fish into bite-size chunks. Heat the oil in a large skillet over medium heat, and add the salmon. Turn the heat to low and stir the fish to warm.
Add the peas, stirring, then add a cup of milk and heat gently, until the peas are cooked through. Sprinkle the flour over the milk and stir in, until the sauce begins to thicken.
Season with basil, salt and pepper. Add a bit more milk if the sauce seems too thick; it should be pourable.
Toss the pasta with the sauce, and serve hot, with a sprinkling of additional pepper if desired. Mangia!