DO-AHEAD TIP: Marinate kabobs for 2 hours (see recipe). If using bamboo skewers, soak them in water for at least 30 minutes to prevent burning on the grill.
In a small bowl, combine first 7 ingredients (lime juice through ground red pepper).
Thread steak, bell peppers and onion pieces alternately on skewers. Place kabobs in a shallow dish and pour lime juice mixture on top; cover and refrigerate for 2 hours.
Preheat outdoor or indoor grill to MEDIUM-HIGH; lightly coat grill grate with a little olive oil. Place skewers on grill, cover with grill lid and cook for 5 to 7 minutes per side, turning occasionally, until they reach desired level of doneness.