Remove the cores from the tomatoes and score an X on the bottom of each one.
Place the tomatoes around the outer edge of a large 5-quart oven-safe pot.
Add the red pepper chunks to the center.
In a mini food processor, pulse the Serrano chilies and garlic until finely chopped. Add them to the center of the pot.
Pour over the olive oil. Add the paprika, sugar, and salt. Mix only the center ingredients together.
Cover and bake at 400°F (200°C) for 30 minutes.
Carefully remove the pot from the oven and peel the tomatoes. The skins should come off easily.
Using a potato masher, mash everything together.
Return to the oven uncovered and bake for 1 to 1½ hours, stirring occasionally and incorporating the oil back into the tomatoes, until thick, rich, and jam-like.
Allow to cool before transferring to containers.
