In a mixing bowl, toss the chicken with 1 1/2 teaspoons salt, 1/4 tablespoon cayenne, and flour.
In a large cast-iron or enameled cast-iron Dutch oven, heat the oil over medium-high heat. When the oil is hot, but not smoking, add the chicken and brown, cooking for about 6 to 8 minutes on each side. Add the onions and the remaining 1/2 teaspoon salt and the remaining 1/4 teaspoon cayenne. Stirring constantly, wilt and brown the onions, scraping the bottom of the pan to loosen any browned particles, about 10 minutes. Add the bell peppers and bay leaf. Continue stirring, again scraping the bottom of the pot to loosen any browned particles, for about 15 minutes. Add the water, cover, and reduce the heat to medium. Stir occasionally and cook for about 30 minutes, or until the chicken is tender.
Add the corn, peas, and mushrooms, cover, and cook for 15 minutes more, stirring occasionally. Add the parsley.
Remove the bay leaf and serve immediately.
Yield: 4 to 6 servings