Combine bell peppers, tomato, onion, jalapenos, garlic, black beans, black eyed peas, corn and cilantro in a large mixing bowl. Set aside.
Whisk together olive oil, red wine vinegar, lime juice, Kosher salt, hot sauce and sugar. Pour over chopped vegetables, tossing to coat.
Cover and chill for 1-2 hours, or up to overnight.
Before serving, drain out most of the marinade by tipping the bowl with the lid securely in place. You don't want to lose it all or pour it through a colander. I use the lid of the bowl to help me strain.
Serve with tortilla chips.
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Nutritional information does not include tortilla chips.