Heat olive oil in a very large skillet or paella pan over medium-high heat until it begins to smoke. Place chicken thighs skin-side down into oil and sear until golden brown on both sides, about 5 minutes; set aside.
Stir in onion and garlic, and cook until the onion has softened and turned translucent, about 1 minute. Add green and red bell peppers, calamari, and small shrimp; cook for 2 minutes more.
Stir in salt, saffron, tomatoes, peas, rice, and water until well combined. Add chicken thighs, and simmer for 15 minutes over medium-high heat, stirring frequently to make sure rice does not stick.
Decoratively nestle clams and jumbo shrimp into the rice. Reduce heat to medium-low, cover, and simmer for 10 minutes. Place the scallops into the paella, recover, and continue simmering until the rice is tender and the scallops firm and opaque, about 5 minutes. Garnish with lemon wedges to serve.
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