Spray large skillet with cooking spray; add oil. Brown chicken in oil; remove from skillet and set aside.
Add green pepper, onion and garlic and saute 5 minutes; add mushrooms and saute additional 3 minutes. Stir in tomatoes, water, Italian seasoning, salt, pepper and red pepper. Bring to a boil and stir in rice. Return chicken to pan.
Cover and cook over low heat 30 minutes or until tender and all liquid is absorbed.