Heat 1 tablespoon oil in a heavy 12-inch skillet over medium-high heat. Add pork belly. Cook 6 to 7 minutes or until very crisp, stirring occasionally. Remove with slotted spoon and transfer to paper towels to drain.

Add remaining ½ cup oil to skillet; heat over medium-high heat. Fry tortillas, in batches, for 1 to 2 minutes or until lightly browned, turning halfway through. Drain on paper towels. Reserve 1 tablespoon oil in skillet; discard remaining oil.

Add bell peppers and onion to skillet. Cook 4 to 5 minutes or until crisp-tender, stirring often. Transfer to a bowl; cover to keep warm.

Whisk together eggs, salt, 1 teaspoon black pepper, and smoked paprika in medium bowl until well combined. Add egg mixture to skillet. Cook over medium heat until set, stirring occasionally to form soft curds.

Push eggs to one side of skillet; place pork belly in center and bell pepper mixture on other side of skillet. Drizzle with lime juice. Garnish with additional black pepper, Cotija cheese, and chopped cilantro, if desired. Serve on tortillas with lime wedges and guacamole and salsa, if desired.