Wash and dry jalapeño, serrano, and red chili peppers. Use gloves to avoid irritation.
Remove tops, seeds, and white membranes. Finely mince the peppers.
Combine mayonnaise and tomato ketchup in a bowl. Mix well.
Incorporate minced jalapeño, serrano, and red chili peppers.
Add minced garlic, hot sauce, and optional smoked paprika. Mix thoroughly.
Add lime juice for tanginess. Mix.
Season with salt and black pepper to taste. Adjust as necessary.
Taste and adjust spiciness with more hot sauce or minced chili peppers.
Transfer the sauce to a clean jar or airtight container.
Refrigerate for at least 30 minutes to meld flavours and mellow the heat.