Remove the skin from the chicken. Split the legs into drumsticks and thighs, and then cut each in half crosswise through the bone to get eight bone-in pieces. Pick out any small bone shards.
In a Dutch oven or another heavy pot, heat the olive oil over medium heat. Add the chicken, onion, green pepper, and tomatoes. Season with salt and cook until the chicken is browned, about 12 minutes (I allow the chicken to brown on one side and then flipped the pieces over before adding the vegetables, otherwise the chicken won’t really brown). Stir in the garlic and cook until fragrant, about 1 minute. Pour in the wine and simmer for 10 minutes. Cover with 8 cups water, bring to a boil, lower the heat, and gently simmer uncovered for about 45 minutes, until the chicken is tender and the liquid has reduced by about one-third.
Meanwhile prepare a picada by adding the almonds, parsley, and 1 or 2 tablespoons of the simmering liquid to a small food processor and blending until smooth.
To the simmering pot, sprinkling in the rice and the saffron, crushing it between your fingers, and stir in the picada. Cook uncovered until the rice grains are nearly tender but still have a definite al dente bite to them, 14 to 16 minutes, depending on the rice. Add more water if needed to keep it nice and soupy.
Remove the pot from the heat and let it sit covered for 3 to 4 minutes. Ladle into bowls and serve immediately. The rice will continue to absorb the liquid the longer it sits.