In a large oven-proof saucepan, cook the bacon over Direct Medium heat until crispy, 8 to 10 minutes, stirring occasionally. Add the onion and cook until tender, about 5 minutes, stirring occasionally. Add the garlic and red pepper flakes, and cook for 30 seconds, stirring occasionally. Add the baked beans [with their liquid], ketchup, Worcestershire sauce, and chili powder. Bring the mixture to a simmer, stirring occasionally, and then cook over Direct Low heat for 15 minutes, stirring all the way to the bottom of the pot occasionally. Taste and adjust seasoning with salt and pepper, if desired. Serve warm.