Bring a large pot sprayed with nonstick spray to medium heat. Add bell peppers and onion. Stirring occasionally, cook for about 3 minutes, until tender.
Add tomatoes, V8 juice, and cornstarch. Stir well, making sure cornstarch dissolves completely. Cook until mixture begins to bubble. Add okra, Cajun seasoning, and Frank's RedHot. Stir and bring mixture to a boil.
Reduce heat to low. Cover and let simmer for 10 minutes.
Add shrimp, and continue to simmer until shrimp are cooked through, about 3 - 4 minutes. Add crab meat and 3/4 cup water. Raise heat to medium, and return to a boil.
Remove pot from heat, cover, and let thicken for 5 minutes. Season to taste with black pepper. If you like, add a little more Cajun seasoning and Frank's RedHot. Enjoy!