Kim's note: Original recipe served 8-10, this is quadrupled. It makes about 8 cups.
I often use leftovers to make huevos rancheros a few days later. The sauce will keep for at least a week in the fridge. I used to freeze it in 2 cup portions, but it never makes it that far. If you do freeze it, it will separate a little after thawing. Just mix it up again and it should be fine.