Prepare the collards by removing the bottom two-thirds of each tough center stalk with a sharp knife. Be sure to not split the leaves. Place one collard leaf flat on a plate with a lip or a shallow bowl. Pour boiling water over the leaf. Let sit until it turns bright green, about 30 seconds. Remove and pat dry. Repeat with the remaining leaves.
Lay the collards flat and place 2 to 3 slices chicken and 1 tablespoon peanut sauce on each on the uncut part of the leaf. Divide the carrots, peppers and cilantro evenly among all four of the wraps. Fold in the corners of each collard and roll up tightly.
To save time when assembling, prepare and blanch the collards up to 5 days ahead.