Roast the red bell peppers and little chilis over a gas burner or under the oven broiler, turning frequently until blackened and blistered, about 12 minutes.
Place in a covered bowl or paper bag to steam 10 minutes. This will loosen the skin.
Rub off the skins and slit the peppers to remove the membranes and seeds. Spread on a paper towel 10 minutes to drain.
Meanwhile toast the walnuts in the oven until brown and fragrant.
In a food processor, combine all ingredients, with the bell peppers and walnuts last in order. You can make your paste smooth like hummus, or chunky with the walnuts rough like gravel.
Adjust the salt and lemon juice to taste.
Paula Wolfert suggests making Muhammara a day in advance to allow the flavors to marry. This is ideal, but if you are pressed for time, it is also fantastic warm and fresh.
Serve Muhammara with Belgian endive, flatbread such as pita or lavosh, or crackers. Leftover muhammara is also delicious as a sandwich spread.