RELISH: In a large skillet, heat the olive oil over medium-high heat. Add the red and green peppers and the garlic; saute 5 minutes. Stir in the lime juice, sugar, and salt. Cook 2 minutes, or until the juices are slightly thickened. Cool slightly and stir in the cilantro. Refrigerate until completely chilled.
CORN CAKES: Stir together the flour, cornmeal, sugar, baking powder, salt, and cumin. Stir in the milk, eggs, Tabasco, chilies, and corn. Let sit 15 minutes.
In a large non-stick skillet set over medium-high heat, melt a couple slivers of the butter. When pan is very hot, spoon 2 tablespoons batter into the pan for each cake. Cook about 3 cakes at a time for about 2 minutes on each side, or until lightly browned. (The batter should make about 10 to 12 cakes.) Keep warm while cooking the remaining cakes, adding a little butter to the pan before cooking each batch.
Serve the corn cakes with a little of the relish on top.
Note: Bottled salsa also can be served with the corn cakes in place of the relish.