In a medium saucepan, heat olive oil and garlic over medium heat. Cook until soft, but not browned (for about 30 seconds).
Add diced red peppers, and continue to cook for 2–3 minutes, until the peppers begin to sizzle.
Add tomatoes, tomato juice, basil, and pepper. Bring to a boil. Simmer for 10 minutes, or until the sauce thickens slightly. (Sauce can be pureed for picky eaters.)
Use immediately. Or, refrigerate in a tightly sealed container for 3–5 days or freeze for 1–2 months.