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In a 12 to 14-inch frying pan, heat the oil over medium heat until smoking. Add the onions, peppers, chili flakes and oregano and cook 8 to 10 minutes, until softened. Add the tomato paste and cook 15 to 18 minutes, until paste turns a darker color. Add the red wine and simmer 10 minutes. Remove from the heat and allow to cool.
To finish the dish, place a 14 to 16-inch skillet over medium heat and place the sausages in the pan. Cook for 7 to 9 minutes, until dark golden brown on the bottom, moving sausages carefully and frequently. Turn the sausages and add the pepper mixture. Bring to a boil, lower the heat and simmer for 25 to30 minutes, augmenting the pan with water, 1/4 cup at a time to keep the liquidity near that of a ragu. Remove from heat, divide equally among 6 warmed dinner plates, and serve immediately.