Cook and stir bacon in large nonstick skillet on medium heat until crisp. Remove bacon from skillet with slotted spoon; drain on paper towels. Discard all but 3 Tbsp. drippings from skillet. Add onions to reserved drippings; cook and stir 5 min. or until crisp-tender. Stir in potatoes; cover. Cook on medium-low heat 20 to 25 min. or until potatoes are tender, stirring occasionally.