In 4-cup microwavable measuring cup, place ale. Microwave uncovered on High 4 to 6 minutes, stirring every 2 minutes, until reduced to 1/4 cup. Stir in brown sugar, butter, chili powder, salt and red pepper. Microwave on High 1 to 2 minutes, stirring every 30 seconds, until butter is melted and sugar is dissolved. Pour over cereal mixture; stir until evenly coated.