Trim fat from lamb, and cut lamb into 2-inch cubes. Combine lamb and 3 cups cider in a large zip-top plastic bag; seal and marinate in refrigerator 8 hours or overnight.
Drain lamb, discarding marinade. Pat lamb dry with paper towels. Place flour in a large zip-top plastic bag. Place half of the lamb in bag, and seal bag, shaking to coat. Heat 1 tablespoon oil in a Dutch oven over medium-high heat; add lamb mixture, and cook for 5 minutes or until browned. Remove from pan. Add the remaining lamb to bag, and seal bag, shaking to coat. Repeat the procedure with 1 tablespoon oil and lamb.
Heat pan coated with cooking spray over medium heat. Add onion and garlic; sauté 6 minutes. Return lamb to pan; add 1 cup cider, broth, and next 6 ingredients (broth through cinnamon). Bring to a boil. Cover, reduce heat, and simmer 1 1/2 hours or until lamb is tender. Add potato and carrot; bring to a boil. Cover, reduce heat, and simmer 15 minutes. Stir in bell peppers; cook 5 minutes or until bell peppers are crisp-tender. Discard rind strips, bay leaves, and cinnamon stick.