Brown the Meats: Heat olive oil in a large Dutch oven over medium-high heat. Add ground beef and Italian sausage. Cook, breaking up the meat with a spoon, until browned. Drain off any excess grease.

Sauté Vegetables: Add chopped onions and green bell peppers to the Dutch oven. Cook until softened, about 5-7 minutes. Add garlic and cook for another minute until fragrant.

Add Tomatoes and Broth: Stir in crushed tomatoes, tomato sauce, diced tomatoes (undrained), and beef broth. Bring to a simmer.

Add Spices: Add chili powder, cumin, smoked paprika, oregano, cayenne pepper (if using), salt, and black pepper. Stir well to combine.

Add Beans and Other Ingredients: Add kidney beans, black beans, pinto beans (if using), jalapeño (if using), tomato paste, and brown sugar (if using). Stir to incorporate.

Simmer: Reduce heat to low, cover, and simmer for at least 1 hour, or up to 2-3 hours for deeper flavor. Stir occasionally. If you wish to thicken the chili, remove the cover during the last 30 minutes of simmering.

Adjust Seasoning: Taste and adjust salt and pepper, or other seasonings, to your preference.

Serve: Ladle the chili into bowls and garnish with fresh cilantro, sour cream, shredded cheese, or your preferred toppings.