Season chicken with adobo. Heat oil in large skillet over medium-high heat. Add chicken to pan; cook until golden brown on all sides, about 5 min. Transfer to plate. Add onion and peppers to pan. Cook until vegetables are soft, about 5 min. Add garlic to pan; cook until fragrant, about 30 sec. more.
Pour 2 cups water into pan with vegetables; bring water mixture to boil; add rice and chicken to pan. Return water to boil; boil 1 min. Lower heat to medium low; simmer, covered, until water is absorbed, rice is tender and chicken is cooked through, about 25 min.
Arrange pimientos, olives and peas over Chicken and Rice.