Sprinkle salt and pepper over the steak and rub with 1 tablespoon olive oil.
Brown steak on both sides in a lightly greased skillet over high heat for 5 minutes. Remove and cover with foil.
Sauté the peppers, onions, garlic, and remaining 1 tablespoon olive oil over medium heat for 5 minutes or until tender. Add the tomatoes, mushrooms, wine, and red pepper and bring to a boil. Simmer for 5 minutes. Add the steaks and cook for about five minutes more. Stir in the basil and stir immediately.