Adjust oven rack to middle position and pre-heat oven to 350 degrees F.
Place tomatoes and onions in a food processor, and process until smooth and fully pureed, about 15 seconds. Measure out 2 cups of the liquid, and set aside. (If you have more than 2 cups, reserve for another recipe or discard).
Clean jalapenos, and remove the ribs and seeds to achieve desired heat. Mince the remaining flesh, and set aside.
Rinse rice by placing it in a large fine-mesh strainer and rinsing under cold running water until water runs clear, about 1 1/2 minutes. Then shake to remove excess water.
Over medium-high heat, warm oil in heavy-bottomed, oven safe, 12-inch Dutch oven with tight-fitting lid. Warm for 1 to 2 minutes. Drop 3 or 4 grains rice in oil; if grains sizzle, oil is ready.
Add rice and fry 6-8 minutes, stirring frequently, until rice is light golden and translucent.
Once rice is golden, reduce heat to medium, add in the minced garlic and seeded minced jalapeños; cook 1 ½ minutes, stirring constantly, until fragrant.
Stir in the 2 cups of pureed tomatoes and onions, chicken broth, tomato paste, and salt
Turn heat up to medium-high and bring the whole mixture to a boil.
Once boiling, cover the dutch oven and transfer to the pre-heated oven.
Bake until liquid is absorbed and rice is tender, 30 to 35 minutes, stirring well after 15 minutes.
When tender, stir in cilantro and additional jalapeño with seeds to taste (for heat). Serve immediately, with lime wedges.