Melt butter in heavy skillet. Add meat and cook over high heat until brown. Stir in rice and onion; cook until rice is golden, stirring often.
Combine tomato juice with water, chili sauce, steak sauce, salt, pepper and garlic; heat to boiling. Pour over meat mixture. Top with pepper rings. Place lid on skillet. Heap coals around sides and on top of skillet lid and cook until rice is tender (or bake 30 minutes at 350 degrees).