In a large skillet, heat 1 tablespoon of olive oil over medium-high heat. Season the chicken pieces with 1/4 teaspoon of chili powder and 1/4 teaspoon of ground cumin. Add the chicken to the skillet and cook until browned and cooked through, about 5-7 minutes. Remove the chicken from the pan and set aside.
In the same skillet, add the remaining 2 tablespoons of olive oil. Add the diced onion and bell peppers. Sauté for about 3-4 minutes, or until the vegetables are softened and fragrant.
Pour in the low-sodium chicken broth and salsa. Stir to combine, then bring the mixture to a simmer.
Add the short pasta to the skillet, stirring to combine it with the broth and veggies. Cover the skillet and let it cook for about 10-12 minutes, or until the pasta is al dente, stirring occasionally to prevent sticking.
Once the pasta is cooked, reduce the heat to low. Stir in the heavy cream and the remaining chili powder and cumin. Add the cooked chicken back into the skillet and mix well to combine everything.
Remove the skillet from heat and squeeze the juice of one lime over the pasta. Add the shredded cheddar cheese, stirring until melted and creamy.
Serve the One-Pan Chicken Fajita Pasta warm, topped with optional sour cream, guacamole, and chopped cilantro if desired. Enjoy your flavorful fiesta in a bowl!