Season the chicken all over with salt and pepper. Set aside.
In a medium saucepan, combine the wine, shallots, garlic, peppercorns, and thyme and bring to a boil over high heat and cook, stirring frequently, until reduced to about 1/2 cup, about 20 minutes.
Place the chicken in a Dutch oven (or heavy large pot) and then add the wine mixture and the chopped tomatoes.
Cover and cook over medium heat, turning frequently, until the chicken is very tender and opaque throughout, about 40 minutes.
Transfer the chicken to a platter. Set a fine-mesh sieve over a small bowl and strain the cooking juices. (You'll have about 1 cup).
Whisk in the tomato paste.
Pour the juices into a large skillet and bring to a boil over medium-high heat.
In a small bowl, combine the butter and flour to make a beurre manié by using your fingers (or a fork) to form a crumbly paste.
Add the butter mixture to the pan and cook, whisking constantly, until a thick sauce forms, 7 - 10 minutes.
Season to taste with salt and pepper, and stir in the olives.
Add the chicken, turn to coat with the sauce, and cook over medium-low heat until warmed through, about 5 minutes.
Divide among individual plates, and spoon the sauce over the top. Serve at once.