Brown the chicken pieces in the olive oil over moderate heat, about 7 to 10 minutes. Transfer chicken to a platter and pour off all but I tablespoon of olive oil.
To the pan add the garlic, peppercorns, and onions. Cook 4 minutes, then add the carrots, red wine vinegar, bay leaves, and dry white wine. Bring to a boil and simmer 35 to 40 minutes, until vegetables are tender. Add chicken pieces and simmer 3 minutes.
Remove pan from heat and add the pepper strips. Let the chicken and vegetables cool to room temperature and then chill them overnight in the refrigerator. Bring the mixture to room temperature before serving.