2 pounds x red bell peppers - (1 ½ total)
1 teaspoon olive oil
1 1/2 quarts fat-skimmed chicken broth
1/4 teaspoon saffron threads (optional)
1 1/2 pounds frozen deveined peeled shrimp - (21/30 ct)
1 cup frozen petite peas
Rinse, stem, seed, and chop bell peppers. In a 5- to 6-quart nonstick pan over high heat, stir 1 1/2 cups chopped red peppers with the oil and ham until peppers are limp, about 5 minutes. Add rice, water (as specified on package), and seasoning packets. Bring to a boil, cover, reduce heat, and simmer until rice is tender to bite, 18 to 20 minutes, stirring occasionally.
About 8 minutes before rice is done, in a 4- to 5-quart pan over high heat, bring broth and saffron to a boil. Stir in shrimp, cover, and return to a boil. Reduce heat and simmer until shrimp is opaque in center of thickest part (cut to test), about 5 minutes. With a slotted spoon, transfer shrimp to a small bowl. Return broth to a boil over high heat.
Stir peas into rice mixture and cook until they're hot, about 2 minutes.