Heat the oil in a large saucepan over medium heat.
Pat the chicken dry with paper towels. Season with 1/2 teaspoon salt and 1/4 teaspoon pepper and cook until golden brown, 2 minutes per side.
Add the onion and bell pepper and cook, stirring occasionally, until soft, about 5 minutes. Add the garlic and cook, stirring, for 1 minute. Add the wine, tomatoes and their liquid, rice, 1/2 teaspoon salt, and 1/4 teaspoon pepper and bring to a boil. Reduce heat and simmer, covered, for 20 minutes.
Stir the peas into the rice and chicken and cook, covered, until heated through, about 2 minutes.
Spoon the chicken and rice onto individual plates and sprinkle with the parsley. Serve with the olives, if desired.
Upgrade: Turn this dish into a party-friendly paella by adding 1/4 teaspoon saffron with the rice. Five minutes before the rice is done, stir in 3/4 pound peeled and deveined shrimp.