Heat oven to 375°F. Cook bacon in large skillet over medium heat until browned. Add onion and bell pepper; cook 2 to 3 minutes or until vegetables are crisp-tender. In ungreased 13x9-inch (3-quart) glass baking dish, mix bacon mixture with all remaining rice mixture ingredients.
In food storage plastic bag, place flour, chili powder, salt and 1/4 teaspoon thyme. Add chicken pieces, 1 or 2 at a time; shake to coat. Place chicken pieces, skin side up, over rice mixture. Cover with foil.
Bake 45 minutes. Uncover; bake 15 to 30 minutes longer or until chicken is fork-tender and juices run clear.