Season the chicken with salt, pepper, and lime juice. In a large casserole or dutch oven, heat the olive oil. Brown the chicken, remove the chicken from the pan, and set aside.
Add the onions, peppers, and garlic to the casserole. Cook until translucent. Add the tomato sauce, cumin, and bay leaf; cook for another 5 minutes. Add the chicken, wine, beer, and sherry, and cook for 5 to 8 minutes. Add the stock, bring to a boil, and adjust the seasoning. Add the drained rice and the saffron.
Bring the mixture to a boil, cover, and cook in the oven for 20 minutes.
Remove the rice from the oven and add the peas, fluffing the rice and mixing in the peas at the same time. Serve hot.