In a large stockpot, cook the bacon until almost crisp. Add in the onion and shallot, and sauté until tender.
Add the black eyed peas, diced tomatoes, brown sugar, salt, chili powder and pepper, then stir to coat the peas. Then add the ham hock, parsley and water.
Cover and cook over medium heat for 2-2 ½ hours, stirring occasionally, or until the peas are tender and the ham hock is starting to break apart. Add additional water during cooking if necessary.
Carefully remove the ham hock from the peas, and separate the meat from the bone. Add the meat back to the peas, and stir to combine.