Toss peppers in 1 Tbsp. olive oil. Set aside.
In a small saucepan, combine brown sugar, soy sauce, rice wine vinegar, ginger, and red pepper flakes.
Bring to a boil; reduce heat and simmer 10 minutes or until reduced by half. Remove from heat.
Heat 2 Tbsp. olive oil in a large skillet over medium-high heat.
Add peppers to hot pan, turning regularly, until skin begins to blister on all sides. (*Note: these peppers cook quickly. Mine were ready after just 2-3 minutes.)
Remove from heat, add sauce, and toss to coat.