Season the chopped chicken with salt and pepper and set aside.
Place cornstarch and beaten eggs into two separate bowls. Dip the seasoned chicken into the cornstarch, then coat in the egg mixture.
Heat 2 tablespoons of vegetable oil in a large skillet or wok over medium-high heat.
Add the battered chicken to the pan. You may need to work in batches to avoid crowding.
Fry the chicken, tossing and turning every few minutes for about 8 to 10 minutes.
While the chicken is cooking, make the sauce by whisking together the minced red chili pepper, garlic, ginger, soy sauce, rice vinegar, Chinkiang vinegar, and red chili paste.
In a separate small bowl, whisk together the remaining cornstarch and water to make a cornstarch slurry.
Once all the chicken is cooked, remove it from the pan and set aside. Add more of the oil to the pan and add in the sliced bell peppers and chopped red chilis.
Sauté the vegetables until they begin to soften and brown.
Add the chicken back to the skillet and pour the sauce over the chicken and vegetables. Stir fry for 4 to 5 minutes.
Continue to cook until the sauce has thickened, stirring continually.
Remove the pan from heat. Serve the Kung Pao Chicken over rice and garnish with peanuts and green onions.