Heat oven to 350°F. Add sausage to medium pot over medium-high heat. Cook, breaking up sausage into small crumbles with wooden spoon, until browned and cooked through, about 8 minutes; transfer sausage to plate. Add 4 cups water to same pot; bring to boil, scraping up any stuck bits from bottom of pot. Stir in rice, 1 tbsp. olive oil and salt; return water to boil. Cover pot; reduce heat to low. Simmer, covered, until rice is tender and water is absorbed, about 25 minutes. Stir in small red beans in sauce, 1 cup cheese and reserved sausage.
Meanwhile, transfer pepper halves to foil-lined baking dish. Brush peppers, inside and out, with remaining olive oil. Bake until just tender, about 15 minutes.
Spoon rice and bean mixture into cooked peppers, mounding rice at the top; sprinkle with remaining cheese. Bake, uncovered, until cheese melts, about 10 minutes. Serve.
To make these stuffed peppers ahead of time, follow the instructions through step 2. Then, spoon the rice and bean mixture into the cooked peppers, let them cool and store, covered in the refrigerator, for up to 3 days. When you’re ready to cook, simply sprinkle the peppers with cheese and bake in an oven heated to 350°F until the rice is warmed through and the cheese is melted, about 30 minutes.