Heat a large pan to medium heat and add olive oil.
Add onion and jalapeno peppers and cook about 5 minutes to soften.
Add garlic and cook another minute, until you can smell the yummy garlic.
Add the rice and stir. Cook for a couple minutes, stirring, to very lightly brown the rice.
Add tomato sauce and broth. Stir.
Add corn, peas, chili powder, cumin, oregano, salt and pepper, and hot sauce if using. Stir and bring to a quick boil. NOTE: Feel free to add other seasonings that you LOVE. Flavor it up!
Reduce heat and simmer for about 30 minutes, or until the rice has absorbed all of the liquid and is softened to your liking. If it needs more cooking, add a bit more broth and keep it simmering until you LOVE it.
Remove from heat and top with cilantro for serving.