Process tomatoes and onions in the food processor until smooth and thoroughly pureed, about 15 seconds, scraping down the bowl if necessary. Transfer the mixture to a liquid measuring cup; you should have 2 cups. If necessary, spoon off excess or add water so that the volume equals 2 cups.

Place the rice in a large fine mesh strainer and rinse under cold running water until the water runs clear, about 1 1/2 minutes. Shake rice vigorously in a strainer to remove all excess water.

Heat the oil in a heavy-bottomed oven-safe Dutch oven or straight-sided saute pan with a tight-fitting lid over medium-high heat, 1 to 2 minutes. Add the rice and fry, stirring frequently, until it is golden and translucent, 6 to 8 minutes. Reduce the heat to medium; add the garlic and minced jalapenos; cook, stirring constantly, until fragrant, about 1 1/2 minutes.

Stir in pureed tomatoes and onions, chicken broth, tomato paste, and salt; increase heat to medium-hight and bring to a boil. Cover the pan and transfer to the oven; bake until the liquid is absorbed and rice is tender, 30 to 35 minutes, stirring well after 15 minutes.

Stir in cilantro, if desired, and serve with lime wedges.