In a blender or food processor, add chopped onion, red wine vinegar, and garlic. Heat oil in a medium pot, add blended mixture and saute over medium heat for 1-2 minutes or until fragrant. Add ketchup and mustard. Cook for additional 3 minutes, or until lightly bubbling, stirring often. Watch for burning. Reduce heat to low, add brown sugar and hot sauce. Simmer for an additional 15 minutes; stir occasionally.