In a small bowl, mix together the cream cheese, oregano, parsley, basil, garlic powder, and red pepper flakes.
Spread mixture in the bottom of a 9 inch pie plate, or a shallow microwave-safe dish. Sprinkle 1/2 cup of the mozzarella cheese and 1/2 cup of the Parmesan cheese on top of the cream cheese mixture. Spread the pizza sauce over all.
Microwave the pepperoni for about 30 seconds just to get some of the fat out of them so you don't end up with a greasy mess on top of your pizza dip.
Sprinkle with remaining cheeses, then top with green pepper, pepperoni and olive slices. Cover, and microwave for 5 minutes or bake in a 350 degree oven (my preferred method) for 15-20 minutes. Serve hot with baguette slices, tortilla chips, or Fritos scoops.
Notes
Note: You can either cook this in the microwave or oven. If you wish to cook it in the oven preheat the oven to 350 degrees.adapted from Allrecipes