Pour 1/4 cup of the dressing over combined shrimp and red peppers in shallow dish or resealable plastic bag; cover dish or seal bag. Refrigerate 15 minutes to marinate.
Remove shrimp and red peppers from marinade; discard marinade.
Place chipotle peppers, tomato sauce and thyme in blender or food processor container; cover. Blend well.
Pour remaining 1/4 cup dressing into large skillet.
Add shrimp mixture; cook on medium heat 3 minutes, stirring frequently.
Remove shrimp mixture from skillet; set aside. Increase heat to medium-high.