Wash and drain the black-eyed peas. Soak overnight in water that covers by 12 centimeters or 5 inches. Drain peas and discard soaking liquid.
In a large pot, add the black-eyed peas and water for cooking. Bring to a boil. Cover, turn the heat down to low, and simmer for 40 minutes or until the peas are tender. Set aside without draining.
Add the olive oil to a large skillet and put it over medium-high heat. When the oil is hot, add the chiles and stir once. They should darken and puff up immediately. Quickly add in the garlic and stir once.
Add the black-eyed peas with all the cooking liquid and the remaining spices. Stir the mixture and bring to a simmer. Simmer gently, uncovered, for 20 minutes.