In a blender, place first 6 ingredients (mayonnaise through black pepper); process until smooth. Refrigerate while you prepare the salad.
Heat the olive oil in a large skillet over medium heat. Add chicken and cook for 8 minutes per side or until cooked through; salt and pepper to taste.
In a large bowl, combine remaining ingredients (arugula through olives); toss with prepared blue cheese dressing and top with grilled chicken.