Heat oil over medium-high heat in a large non-stick skillet. Sauté onions for 2 minutes, then add bell peppers, garlic, and ginger and sauté for 2 minutes more.

Add curry paste and peanut butter and sauté for 1 minute. Add 1 1/2 cans of coconut milk. Whisk cornstarch into the remaining half can of coconut milk and add to the pan. Stir well.

Add the chicken pieces, stirring to coat. Simmer for 10-15 minutes or until the chicken is cooked through and the sauce begins to thicken.

Stir in the brown sugar, fish sauce, lime juice, and basil. Simmer for 5 more minutes. Season with salt and pepper to taste.

Serve over hot cooked jasmine rice.