Preheat oven to 350°. Lightly spray a 2-quart baking dish with cooking spray. In the work bowl of a food processor, pulse cream cheese until smooth. Add mayonnaise, pulsing to combine. Add roasted red peppers and pimientos, pulsing until coarsely chopped. Add Cheddar and Jack cheeses, hot sauce, Worcestershire, salt, sugar, and ground red pepper; pulse just until combined. Spoon mixture into prepared dish.

Bake for 20 to 25 minutes, or until bubbly and lightly browned. Serve warm with vegetables and pita chips.