Combine the wine and a small pinch of the saffron threads in a bowl. Let it sit until you are ready to use.
Sprinkle with salt and pepper to season the chicken thighs on all sides.
Heat extra-virgin olive oil in your pan over medium-high heat, and cook the chicken pieces with the skin side down until browned. about 5 min
Flip the chicken and cook until golden brown and transfer the chicken out from the pan to another plate. Leave it on the side.
Reduce the heat from to medium. Cook bell pepper, onion and two tsp of minced garlic, stirring until the vegetables are tender, about 5 to 7 min.
Stir in the white wine and saffron mixture into the pan with salt, pepper, 8 oz tomato sauce, packet Sazón Goya, oregano, cumin and bay leaf.
Cook on medium heat until the wine is almost evaporated, about 5 to 10 minutes. Add the chicken thighs, broth, and 1 cup of rice. Bring it down to low heat, and let it simmer.
Cover the pan and cook for 30 minutes.
After 30 min, stir peas into the rice
Sprinkle with parsley, and serve piping hot!