Sweat the onion with in a thin layer of olive oil on low heat for 1 1/2 hours. Add the tomato and simmer for 1 more hour. Let cool and strain. Set aside the onion/tomato mixture.
Open 30 mussels and 12 clams by covering them with white wine. Reserve the wine and juice.
Reserve the olive oil to saute more ingredients. Saute the chicken in olive oil for about 8 minutes. Set aside.
Saute the squid for 5 minutes in olive oil. Set aside.
Saute the peppers for 5 minutes. Set aside.
Add enough water to the reserved mussel and clam juice so it equals 5 1/2 cups. Flavor the fish stock with salt, pepper, and saffron.
Bring to a boil; add 2 cups of rice. Add the Sauteed chicken, squid, peppers, and the onions/tomato mixture.
Bring to a strong boil for 4 minutes. Reduce the heat and add the mussels, clams, and shrimp. Boil moderately for about 10 to 12 minutes. Let sit for about 7 minutes. Then serve.
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