Cook the chicken: Heat olive oil in a skillet over medium-high heat. Add chicken and cook until browned (7-10 minutes).
Sauté vegetables: In the same skillet, add chopped onion and cook until softened (about 5 minutes). Add minced garlic, then bell peppers, cooking until tender (5-7 minutes).
Prepare sauce: In a bowl, mix cream of chicken soup, sour cream, milk, garlic powder, onion powder, black pepper, and red pepper flakes. Stir in cheeses until smooth.
Combine: Add chicken and sautéed veggies to the sauce mixture.
Assemble wraps: Spoon filling onto tortillas, sprinkle with more cheese, fold sides in and roll tightly.
Bake: Preheat oven to 375°F (190°C). Place wraps seam-side down in a greased baking dish. Brush with melted butter mixed with Parmesan cheese and bake for 20-25 minutes until golden.