Combine vermouth and saffron in a small bowl; set aside.
Heat oil in a large nonstick skillet over medium heat.
Add onion and garlic; saut 5 minutes or until tender.
Add rice and chorizo; cook 1 minute, stirring frequently. Stir in the vermouth mixture, salt, red pepper, and broth; bring to a boil. Reduce heat; simmer 8 minutes, stirring constantly. Stir in tomato, bell pepper, and peas.
Remove from heat; nestle shrimp and mussels into rice mixture. Cover with lid or foil; bake at 400 for 35 minutes or until all liquid is absorbed.