Heat the olive oil in a wide, shallow skillet or paella pan over medium-high heat. Add the chicken pieces and sliced chorizo, cooking until the chicken is browned and the chorizo has released its flavorful red oil, about 5 to 7 minutes.

Stir in the chopped onion and diced red bell pepper, cooking for 5 minutes until they begin to soften. Add the minced garlic and smoked paprika, stirring constantly for 1 minute until fragrant.

Pour in the Bomba rice, stirring well to coat the grains with the oil and spices in the pan for about 2 minutes to toast the rice and enhance its flavor.

Crumble the saffron threads into the chicken broth, then pour the mixture over the rice. Stir once to distribute the ingredients evenly, then bring the liquid to a boil.

Reduce the heat to medium-low and let the pan simmer undisturbed for 15 minutes, allowing the rice to absorb most of the broth. Do not stir the rice during this time to encourage the formation of a crispy bottom crust.

Press the shrimp and frozen peas gently into the top of the rice. Continue to cook for another 5 to 8 minutes, until the shrimp turn pink and opaque and the rice is tender.

Turn the heat up to medium-high for the last 1 to 2 minutes until you hear a crackling sound, which signals the crispy bottom crust has successfully formed. Remove from heat, let rest covered for 5 minutes, and serve hot with fresh lemon wedges.