Place lentils in saucepan; pour in enough cold water to cover. Let stand overnight; drain.
Heat oil in Dutch oven or large saucepan set over medium heat; cook chorizo, carrots, celery, onion, red pepper, garlic, Adobo seasoning, cumin, paprika and oregano for 5 to 8 minutes or until chorizo is starting to brown and vegetables are starting to soften.
Stir in lentils; cook for 2 to 3 minutes or until well coated.
Stir in 3 cups water, tomato sauce and bay leaves; bring to boil. Reduce heat to medium-low; cook for 25 to 40 minutes or until lentils are tender and sauce is thickened. Remove bay leaves; stir in cilantro.
Meanwhile, cook rice according to package directions.
Serve lentil stew with rice and lime wedges. Serve with warm tortillas if desired.