Prepare the chicken by cutting it into strips and cooking in olive oil until browned and cooked through.
Sauté the sliced onion and bell peppers until tender, then add minced garlic and cook for an additional minute.
Boil water and cook the penne pasta according to package instructions until al dente, then drain.
Combine sautéed vegetables with spices, chicken broth, and diced tomatoes, then simmer and add cooked chicken and pasta.
Sprinkle shredded cheddar cheese on top, cover, and let it melt before serving with cilantro and lime wedges.