Melt 1/4 cup butter in a large skillet over medium heat; add onions, and sauté 15 minutes or until golden and tender. Add bourbon, if desired, and stir occasionally for 5 minutes or until onions caramelize or begin to turn golden brown. Remove from heat; stir in red peppers, thyme, 1/4 teaspoon salt, and 1/4 teaspoon pepper.
Remove mixture from skillet, and set aside.
Sprinkle pork chops with remaining salt and pepper; dredge in flour.
Melt 2 tablespoons butter in skillet over medium-high heat; add pork chops, and cook 4 minutes on each side or until browned. Remove from skillet, and place in a lightly greased 13- x 9-inch baking dish.
Add chicken broth to skillet, and cook over high heat 2 minutes, stirring to loosen particles from bottom of skillet. Spoon onion mixture and remaining pan juices over meat.
Bake, covered, at 375° for 25 to 30 minutes.
Note: For testing purposes only, we used Woodford Reserve Distiller's Select Bourbon.