Season the chicken with salt, pepper, and lime juice. Heat the olive oil in a large casserole or Dutch oven, brown the chicken and set aside.
Cook the onions, peppers, and garlic until translucent. Add the tomato sauce, cumin, and bay leaf and cook 5 minutes.
Add the chicken, wine, beer, and sherry and cook 5 to 8 minutes. Add the stock, bring to a boil and adjust the seasoning. Add the drained rice and the saffron.
Bring to a boil, cover, and bake 20 minutes.
Add the peas, fluffing the rice to mix them in. Serve hot.