I found this recipe on Food Network and altered it a tad. My recipe with adaptations is below. For the original recipes, be sure to follow my link over to Food Network/Rachael Ray.
Reduce heat on pan to medium. Add remaining vegetable oil. Add peppers and a little onion. Saute peppers and onions 5 minutes. Sprinkle flour over vegetables and cook 1 minute longer. Whisk in sherry and start to pick up pan drippings. Whisk in beef broth and continue whisking. Add tomato paste, black pepper, garlic powder and crushed red pepper. Slide meat back into the pan and coat with sauce. Reduce heat to low and simmer for 1-1 1/2 hours, or until meat is tender.