Heat the oil in a frypan over medium-high heat. Fry the rabbit pieces until browned on the outside. Transfer to a soup pot or large saucepan. Add the onion, garlic, green and red capsicum and the chilli to the frypan; cook and stir until onion is transparent. Transfer to a saucepan.
Add the tomatoes, chicken stock, salt and pepper to the saucepan, and bring to a boil. Simmer over medium-low heat for about 2 hours. Remove the rabbit pieces with a slotted spoon, and keep warm. Turn the heat up to high under the saucepan, and boil the liquid until it has reduced by half.
Return the rabbit pieces to the pan, and stir in the coconut milk. Cook, stirring gently, until heated through. Serve.