Pat the brisket cubes dry with paper towels. Heat the oil in a very large heavy-bottomed pot and quickly brown the meat, in batches, on all sides. Transfer the brisket to a separate bowl and set aside. Saute the onion and garlic in the same oil over medium heat until limp, but not brown, about 8 to 10 minutes. Add the chili powder, pepper flakes, cayenne pepper and cumin and saute for 1 minute. Add the green peppers, bay leaf, tomatoes with their juice, the reserved meat, 1 tablespoon of salt and 1 teaspoon pepper and bring to a boil. Reduce the heat, cover the pot with a tight fitting lid and simmer for 2 1/2 hours, stirring occasionally. Taste and season with salt, to taste. Add the coffee, cover the pot and simmer for 1 more hour.
Add the kidney beans and basil, and warm through. Transfer the chili to a large serving bowl and serve with sour cream, grated Cheddar, diced tomato, tortilla chips and guacamole.