Set the Ninja Foodi to Sauté on High. Add the olive oil, diced chicken, and minced garlic. Cook 3 to 4 minutes, stirring, until the outside of the chicken is no longer pink. Turn off Sauté.
Add the soy sauce, pad thai sauce, water, and rice noodles. Press the noodles down with a silicone spatula until fully submerged. If the liquid doesn't cover them, add water a few tablespoons at a time until it just does.
Lock on the pressure lid and turn the valve to Seal. Pressure cook on High for 2 minutes.
As soon as the timer beeps, do a quick release. Do not let the pot sit on Keep Warm.
Remove the lid and let the pot rest uncovered for 2 to 3 minutes — the sauce will thicken as it sits. Stir well.
Fold in the sliced bell peppers and chopped peanuts. Check that the chicken reads 165°F on an instant-read thermometer.
Serve in bowls topped with scallions, extra peanuts, lime wedges, and cilantro.