In a large skillet or wok heat oil over medium heat. Add chicken and saute for 15 to 20 minutes, or until cooked through (juices run clear and chicken meat is no longer pink inside).
Add green bell pepper, red bell pepper, lemon pepper seasoning, prepared gravy, and salt and pepper to taste. Stir all together; reduce heat to medium low and let all simmer about 10 minutes, or until bell peppers are tender and gravy has thickened.