In a small skillet, heat the olive oil, red pepper flakes, and garlic over medium-high heat for about 3 minutes, or until the red pepper flakes and garlic start sizzling. Turn the heat to medium-low and cook for an additional 5 minutes, being careful not to burn the garlic. Remove from the heat and pour the oil through a mesh sieve into a small bowl. Discard the garlic and red pepper flakes and set the oil aside.
Brush both sides of the bread slices lightly with olive oil. Toast until the bread is just golden brown.
While the bread is toasting, slice avocados in half, remove pits, and scoop avocado flesh into a medium mixing bowl. Add the lime juice, salt and pepper. Mash the avocado mixture with a fork, leaving some chunks, if desired. Stir in 2 tsp. of the red pepper-oil.
Divide the mashed avocado between the toasted bread slices and drizzle with a little extra red pepper-oil. Sprinkle with additional red pepper flakes and serve.