Pound each chicken breast between 2 lightly oiled sheets of parchment or waxed paper into a 4 by 4 inch piece about 1/8-inch thick.
Lay a piece of chicken smooth-side down on the work surface. Spread 1/2 teaspoon of the chile paste over the surface and season with salt and pepper, to taste. Trim and halve the scallions lengthwise. Lay them side-by-side across the lower third of the chicken, so there is white and greens at both ends. Top with 2 or 3 pieces of the red and yellow peppers. Roll the chicken around the vegetables into a tight cylinder. Thread a wooden skewer through the seam of the roll to seal. Repeat with the remaining chicken and vegetables to make 4 rolls. These can be made up to 24 hours ahead and refrigerated.
Preheat the oven to 425 degrees F.
Heat the oil in an oven-proof nonstick skillet over high heat. Season the rolls with salt and pepper, to taste. Lay the rolls, seam side down, in the pan, and cook, turning occasionally, until browned, about 2 minutes. Transfer the pan to the oven, and cook until the chicken is cooked through, about 5 minutes more. Meanwhile, make the sauce. Combine the lime juice, fish sauce, water, chile paste, honey, mint and coriander in a small bowl and set aside.
To serve: Carefully remove the skewers, taking care to keep the rolls intact. Cut across the rolls to make round pieces about 3/4-inch thick, and thread onto skewers. Transfer to a platter, sprinkle with peanuts and serve with the dipping sauce.
Spraying or lightly brushing the parchment or waxed paper that is used when pounding the chicken makes flattening the meat a snap. Coconut milk, a common ingredient in Thai food, although delicious, is a major source of hidden fat.