Combine lamb and marinade ingredients in a large plastic zip bag. Let marinate in refrigerator for at least 3 hours. Drain and discard marinade. Pat lamb dry with paper towels.
Heat the olive oil over medium high heat in a large heavy, deep skillet with a lid. Brown meat on all sides, about 10 minutes (you may need to do a few batches).
Return all the meat to the skillet. Add onions, garlic, salt and pepper. Cook, scraping the browned bits on the bottom of the pan, until onions are tender, about 5 minutes. Stir in paprika, peppers, tomatoes, parsley, bay leaf and red wine. Bring to a boil; reduce heat to medium, and simmer until juices reduce and begin to thicken (10 to 15 minutes)..
Add chicken broth, cover and reduce heat to low. Let simmer for 2 to 2½ hours, stirring occasionally. Lamb should be very tender. Taste to adjust for seasonings.
Notes
If preparing this recipe as GLUTEN FREE, just be sure to use a brand of chicken broth that is designated as GF.