Heat 2 tbsp. corn oil in large skillet set over medium heat; cook onion, red pepper and minced garlic for about 5 minutes or until softened. Stir in Central American Red Beans, rice and Adobo; cook for 3 to 5 minutes or until well coated.
Stir in tomatoes; cook for 10 to 15 minutes or until heated through and liquid is absorbed. Stir in cilantro and lime juice.
Meanwhile, pour enough corn oil into straight-sided skillet set over medium-high heat to come 1/2-inch up side; heat until shimmering (350°F), but not smoking. Cook corn tortilla wedges, in batches, for 1 to 2 minutes or until crisp and golden brown. Transfer to paper towel–lined plate to drain.
Serve rice and beans with avocado, tortilla chips and Hot Sauce for a spicy addition (optional).