In a large, deep, heavy-bottomed pot, combine red peppers, green peppers, jalapeño peppers (if using), vinegar, hot pepper sauce and sugar. Bring to a boil over medium heat, stirring constantly. Reduce heat and boil gently for 5 minutes. Remove from heat and let stand for 20 minutes, stirring occasionally. Bring to a full boil over high heat, stirring constantly. Immediately stir in pectin; return to a full boil. Boil hard for 1 minute, stirring constantly. Remove from heat and skim off any foam. Stir for 5 to 8 minutes to prevent floating peppers.