My Vision of Red-Eye Gravy

Do you know what red-eye gravy is?  It's one of those iconic Southern dishes that I thought sounded great. . . until I read that it's hot coffee dumped into ham drippings.  Maybe it's good, but I'm not tempted to try it anymore. 

However, I wanted to make something delicious that lived up to the catchy name in my mind. 
My Incorrect, But Delicious, Version of Red-Eye Gravy

Fry together in skillet:
1-2 slices bacon, chopped
1/2 onion, chopped

Add and stir until browned:
2 Tbsp. flour

Pour in, while stirring, over low heat:
1 1/4 cups tomato juice

Stir continuously, except for when you add:
1 Tbsp. blackstrap molasses
a little hot sauce

Stir and stir until thickened, several minutes (if you warm up the tomato juice first, this makes it faster).  Taste.  When I was done, I couldn't identify "molasses" and "spicy" per se, but the gravy was rich and bright.  It's possible you may need to add salt (although be careful as some tomato juice and some bacon would be salty enough).

Serve over hot, split biscuits or crispy fried potatoes for an excellent breakfast on a cool morning.  Eat a biscuit and honey for dessert.