Slice the bell peppers into thin strips and mince the garlic. Set aside.
Heat a large skillet over medium-high heat and add 1 tablespoon of olive oil. Once shimmering, add the sliced peppers and red onion. Cook, stirring occasionally, until blistered and fragrant, about 5-7 minutes, until they develop charred edges.
Push the vegetables to one side of the pan. Add a splash more oil if needed, then place the shrimp in the empty space. Cook for about 2-3 minutes per side, until they turn pink and slightly charred, with a firm bounce when pressed.
Add the minced garlic, smoked paprika, and chopped chipotle to the shrimp and vegetables. Toss everything together, cooking for another minute until fragrant and evenly coated.
Squeeze fresh lime juice over the mixture, then toss gently to combine. The dish should smell bright and smoky, with vibrant colors from the peppers and pink shrimp.
Remove the skillet from heat and transfer the fajita mixture to a bowl. Serve immediately with warm tortillas, garnished with additional lime wedges if desired.