Slice the chicken into ¼-inch strips.
In a bowl, mix vegetable oil, lime juice, smoked paprika, salt, sugar, garlic powder, cumin, black pepper, and cayenne pepper. Combine well to create a marinade.
Add the chicken strips to the marinade. Cover the bowl and let it sit at room temperature for about 30 minutes.
While the chicken marinates, slice the onion and bell peppers into ¼-inch strips.
Heat 1 tablespoon of vegetable oil in a skillet over high heat.
Add the sliced onions and bell peppers. Sauté for about 3-4 minutes until they begin to char slightly, then remove them from the pan.
In the same skillet, reduce the heat to medium-high and add the marinated chicken.
Cook for about 4-5 minutes until the chicken is cooked through and no longer pink.
Add the sautéed onions and bell peppers back to the skillet with the chicken.
Stir to combine and cook for an additional 1-2 minutes to heat everything through.
Serve hot with warm flour tortillas and your favorite toppings.