Heat oil in large skillet over high heat. Add bell peppers and water chestnuts; cook and stir 2 minutes or until water chestnuts are lightly browned. Add broth and rice. Reduce heat to medium-low. Cover and simmer 20 minutes or until rice is tender.
Stir in chicken, pineapple, sweet and sour sauce, soy sauce and crushed red pepper. Simmer 5 minutes or until hot.