In 4-quart saucepan over medium heat, heat 2 tablespoons oil; add onions, bell peppers and garlic. Cook until vegetables are tender-crisp, stirring occasionally. With slotted spoon, remove vegetables to bowl. In drippings remaining in skillet over medium-high heat, cook ground beef until well browned on all sides, stirring frequently.
Stir in chili powder, ground cumin and salt; cook 1 minute. Add tomatoes, red kidney beans, Carlo Rossi Chianti and hot pepper sauce. Over high heat, heat to boiling. Reduce heat to low, cover and simmer 20 minutes, stirring occasionally.
To serve, top with shredded Cheddar cheese.
Makes 6 servings