Peel and grate fresh ginger root, then chop vegetables and chicken into 1/2 inch pieces. Set aside.
In medium bowl, combine soy sauce, sherry, cornstarch, ginger, sugar, and crushed red pepper; add chicken, tossing to coat.
In a wok or large non-stick skillet, heat 1 tablespoon oil over medium-high heat until very hot.
Add green onions and red and green peppers and cook, stirring frequently, for 2 to 3 minutes or until vegetables are tender yet crisp. Transfer vegetables to a bowl, but leave the juices behind.
Increase heat to high and add remaining 1 tablespoon oil to skillet; heat until very hot. Add chicken mixture and stir and fry for 2 to 3 minutes or until chicken looses its pink color throughout, I suggest cutting one of the larger pieces to make sure it is cooked through. Cut a large piece in half to check it's done.
Return vegetables to pan and heat through. Sprinkle peanuts on top when serving.
