Char peppers under broiler or over gas flame until blackened. Cover in a bowl 10 minutes; peel, seed, and dice.
Heat oil in a large Dutch oven over medium-high; brown beef and sausage about 8-10 minutes, breaking up with a spoon. Drain fat.
Cook onion and garlic about 5 minutes until soft; stir in chili powder, cumin, paprika, and cayenne. Cook 1 minute until fragrant.
Stir in charred peppers, tomatoes, paste, beans, and broth.
Boil; reduce heat to low and simmer uncovered 2 hours, stirring occasionally, until thickened and flavors blend.
Season with salt and pepper; serve hot with preferred toppings, such as cheese, sour cream, and green onions.