On a large plate, pour the red sauce over the shrimp and set aside.
Heat a skillet over high heat and add the olive oil. Cook the onions and bell peppers over high heat until they start to get nicely browned. Remove from the skillet and set aside.
Add the shrimp with the sauce. Cook, stirring only occasionally, until the shrimp are opaque. Add in a little water if the sauce gets dry. Remove from the skillet and chop the shrimp into bite-size pieces.
In a clean skillet, heat some butter. Place a tortilla in the skillet, then layer on the ingredients: cheese, vegetables and shrimp. Top with a little more cheese and a second tortilla. Cook on both sides, adding butter before flipping to the other side so the tortilla isn't overly dry. Remove from the skillet and slice into wedges. Repeat with the rest of the tortillas and filling ingredients.