Combine the sugar, red wine vinegar and peppers in a non-aluminum four quart sauce pan. Stir well to start dissolving the sugar. Over high heat, bring the mixture to a full rolling boil (boils hard when stirred) for one minute.
Add pectin and stir, bringing it back to a full rolling boil for one minute. Remove from heat. Ladle into sterilized jars and cover with lids and rings if you'll be hot water bathing this jelly. If you're going to store it in the fridge to use in the next two weeks, store it in jars in the refrigerator.