I saw this in Beer Magazine, while I was in Afghanistan. I haven't had a chance to try it yet.
I have it posted on the following link as well. Easier to share this way for some people:
From Beer Magazine
14 oz. Packinghouse IPA (Pretty sure any IPA will do.)
16 oz. Ketchup
1 TBS fresh Ground Pepper
1 tsp. pink salt
1 TBS onion powder
2 TBS garlic powder
2 cubes Knorr Chipotle
1/2 tsp. cumin
1/2 TBS ground mustard
1 tsp. white pepper
1/2 tsp. paprika
1 cup packed dark brown sugar
1/4 cup sugar
1/4 cup honey
1. Add the IPA to a pot and reduce for 15-20 minutes
2. Next, add the ketchup and whisk it together.
3. Add all the spices and be sure to stir repeatedly
4. Introduce the sweetness by adding in the white and brown sugars.
5. Let simmer for about 30 minutes, or longer if you want it thicker.
6. Taste the sauce.
7. If you feel there is too much spice, add the honey to reduce the overall "hotness" of the sauce, but remember: you don't have to do it all at once.
8. Let it Cool.
9. Place in your favorite dispensing container.
10. Serve as a dipping sauce for any meat.
11. Apply to the meat and use while cooking, too.