Preheat Cuisinart™ Electric Skillet to 300º F; add oil and stir to coat surface. Cook onions and peppers together for 2 minutes; add 1/2 cup water and stir until onion/pepper mixture is soft and water has evaporated, about 3-4 more minutes. Remove mixture and keep warm.
Warm buns until lightly toasted. Place 1-1/2 ounces of cheese on each warm bun. Raise heat to 350°F; season meat with salt and pepper. Sear each piece for 1 or 2 minutes per side, until nicely browned; do not overcook or meat will be tough. Place meat on cheese, and top with onions and peppers.