Add picante sauce, chicken, and bell peppers to a resealable plastic bag and chill 20 minutes.
Preheat grill or broiler.
Using a food processor or blender, finely chop garlic and jalapeno, blend in cilantro.
Pour oil in a frying pan and heat over medium heat. Stir in flour and cook 1 minute, continually whisking.
Mix in cilantro mixture, broth, and salt and cook 4 minutes, whisking continually until thick. Take pan off of heat and set aside in a warm place.
Take chicken and peppers out of bag, saving liquid. Lay chicken and bell peppers on a cooking spray coated grill rack. Grill 5 minutes per side or until chicken is fully cooked and peppers are tender, while cooking, brush liquid overtop.
Spoon cilantro sauce equally on each of 4 plates and top with 1 chicken breast and a few pepper pieces. Top with cilantro sprigs.