Heat 1/2 teaspoon oil in a large Dutch oven over medium-high heat; add half of meat. Cook 10 minutes or until browned; remove from heat, and drain. Repeat procedure with 1/2 teaspoon oil and remaining meat; set aside.
Heat 1 teaspoon oil in pan over medium heat. Add bell pepper, onion, red pepper, and garlic; saute 8 minutes or until vegetables are tender. Add chili powder and cumin; cook 1 minute, stirring constantly. Add meat, sugar, and next 5 ingredients (sugar through beer); bring to a boil. Cover, reduce heat, and simmer 45 minutes. Add beans, and simmer, uncovered, an additional 40 minutes or until meat is tender. Serve with sour cream and cheese.
Note: To freeze, cool chili, and place in an airtight freezer container or a heavy-duty zip-top plastic bag. Freeze chili up to 3 months.