In a medium bowl combine chicken, ground chile pepper, and salt; toss well to coat chicken. In an extra-large skillet heat 1 tablespoon of the oil over medium-high heat. Add chicken. Cook and stir for 3 to 4 minutes or until chicken is no longer pink. Remove chicken from skillet; set aside.
In the same skillet heat the remaining 1 tablespoon oil. Add onion and carrots. Cook about 4 minutes or until onion and carrots begin to soften, stirring occasionally. Push onion mixture to one side of the skillet; add garlic and cook for 20 seconds, stirring garlic constantly. Stir together onion mixture and garlic.
Remove skillet from heat. Add wine to skillet, stirring to scrape up any crusty brown bits. Stir in Caldo or broth, salsa, and olives. Return to heat. Bring to boiling; reduce heat. Simmer, uncovered, about 5 minutes or until liquid is reduced by about half. Stir in cooked chicken, peas, and butter. Simmer for 2 minutes more, stirring several times. Remove from heat; if desired, stir in cilantro. Serve with Cheesy White Rice.