Place the broth in a 4-quart pot over medium heat. Add the peppers, scallions and shallots. Cook, stirring frequently, until the peppers are crisp-tender, about 3 minutes. Add a bit of water, if necessary, to prevent scorching. Stir in the flour and cook until slightly thickened, 1-2 minutes, stirring constantly. Remove from the heat and set aside.
Place 1 cup of the corn in a blender or food processor with 1 cup of the milk. Process on low until smooth. Add the corn-milk mixture, the remaining corn, the remaining milk, nutmeg and soy sauce to the peppers in the pot. Set over medium heat and bring the mixture just to boiling, stirring frequently.
Reduce heat and simmer for about 5 minutes. Garnish with the red peppers and parsley.