In large, deep nonstick skillet or paella pan with cover, warm olive oil over medium-high heat. Add chicken and brown on all sides. Remove chicken and set aside. Add onion and garlic, sauteing until translucent. Stirring in rice, cook for 1 minute. Add tomatoes, chicken broth, capers and cayenne pepper. Press chicken pieces down into the liquid. Cover pan and let liquid come to a slow simmer; reduce heat to very low. Let cook until rice is tender, about 30 to 40 minutes. Top with olives and peas and stir very gently. Arrange the pepper strips on top of the paella. Cover pan again for 3 to 4 minutes, until peas are hot. Serve in shallow bowls.