Cut orange and lime in half. Cut one half of each into thin slices; squeeze juice from remaining halves.
Place fruit slices and juice in a pitcher; add red wine, brandy, Triple Sec, sugar, and TABASCO® Sauce and stir well. Chill. To serve, fill large wine glasses with ice. Pour two-thirds full with wine mixture and top with sparkling water.
Makes 6 to 8 servings.