Cut peppers in half lengthwise; remove and discard seeds and membranes. Place peppers, skin side up, on a baking sheet, and flatten with palm of hand. Broil 5 1/2 inches from heat (with electric oven door partially opened) 15 to 20 minutes or until charred. Place in ice water until cool; peel and discard skins. Chop and set aside.
Combine broth and water in a saucepan; place over medium heat. Cover and bring to a simmer; reduce heat to low, and keep warm. (Do not boil.)
Heat oil in a medium saucepan over medium-high heat until hot; add rice. Cook 2 minutes or until rice is lightly browned, stirring constantly. Reduce heat to medium-low.
Add 1 cup of simmering broth mixture to rice, stirring constantly until most of liquid is absorbed. Add remaining broth, 1/2 cup at a time, cooking and stirring constantly until each 1/2 cup addition is absorbed (about 30 minutes). (Rice will be tender and will have a creamy consistency.)
Add peas; cook, stirring constantly, until thoroughly heated. Add chopped pepper, cheese, and remaining ingredients; cook, stirring constantly, until thoroughly heated.