In a medium pot over medium-high heat, add figs, sugar, red wine, lemon juice, balsamic vinegar, and cayenne pepper; stir well.
When the mixture starts to simmer, reduce the heat to medium-low and cook until it thickens, about 20 minutes, stirring often.
While it’s cooking, crush the fruit using either the tip of a wooden spoon or a meat chopper.
When time is up, using an immersion blender, process until the consistency is somewhat smooth keeping some little chunks in it.
Remove from the heat and ladle the jam into the sterilized jars, leaving ½-inch head space at the top. Wipe the rims, apply the snap lids and screw bands.
Place the jars in a boiling water bath and when the water returns to a full boil, process the jars for 10 minutes.
Remove the jars and place them on a wire rack away from any draft to cool completely. After 12 hours, place them in a cool dark area for later use. Yields 2 -250 ml jars