Preheat the inner pot on the Saute setting for 35 minutes.
Meanwhile, sprinkle salt over chicken pieces. Add butter to the pot and allow to melt.
Working in batches, brown chicken pieces skin-side down until golden, about 5 minutes. Flip chicken over and sauté an additional 3 minutes. Remove on a plate and continue until all are done.
Add sliced bacon to the pot and sauté until cooked through, about 3-5 minutes. Set aside.
Add cipollini onions to the pot and sauté until lightly golden stirring only once, about 5-7 minutes. Set aside.
Add mushrooms to the pot and sauté until lightly golden stirring only once, about 3-5 minutes. Set aside.
Pour brandy into the pot, scraping up any browned bits from the bottom.
Return bacon, onions, and mushrooms to the pot. Layer chicken on top.
Pour over red wine and enough stock to cover the chicken.
Stir in tomato paste. Nestle in thyme sprigs, bay leaves, and top with pepper.
Press Cancel. Cover with lid and Pressure Cook on High for 15 minutes.
Allow the pot to naturally release for 15 minutes. Afterwards, flip the valve to release any remaining pressure. Remove thyme sprigs and bay leaves.
In a separate bowl, add 1 cup stew liquid to a bowl with the flour. Whisk until smooth and return to the inner pot. Stir to combine.
Press Saute and allow the stew to boil for 5-8 minutes, until thickened slightly.