Prep your ingredients. Stem, seed and chop red bell pepper into large pieces. Thinly slice shallots, garlic, and chili. Remove the stems from the basil leaves.
In a wok or large cast iron skillet over high heat, heat oil. Add bell pepper, shallots, and garlic. Cook, stirring frequently, until golden, about 2 minutes.
Add chicken and cook, breaking up the chicken into small bits, until cooked through. Add chilis and toss to combine.
Pour chicken broth, oyster sauce, fish sauce, and sugar into the wok. Cook, stirring, until thickened. Add basil and toss until wilted.
Serve over rice or in a lettuce cup.