Cook the chorizo and pancetta in a large skillet over medium heat until they begin to render their fat, 5 to 8 minutes. Add the onion and peppers and cook until the chorizo and pancetta are well browned and the vegetables are softened, 9 to 12 minutes. Remove from the heat.
Cut the dough in half. Roll one piece out into a thin (1/4”-1/8” thick) 1/4 round. Line a baking sheet with parchment, rub paper with olive oil. Place dough on parchment and spread it generously with olive oil. Spread the chorizo mixture evenly over the dough, leaving a 1/2 inch border all around. Roll out the second piece of dough. Moisten the exposed edges of the bottom round of dough with water, place the second round over the filling, and crimp the edges together with a fork to seal. Brush the dough liberally with olive oil and cut a few steam vents in the center. Bake in a 450°F oven for 25-30 minutes, or until the crust is golden. Serve hot or at room temperature.