It starts with the onions, use as much as you want; the more the better.
Dice the onions. They should be as small as possible but still solid, i.e. not falling apart. Think "White Castle Onions" or "flavor crystals."
Simmer the onions in olive oil with oregano, salt, pepper, and a few bay leaves. (about 3 parts oregano to each part salt and pepper). Let onions simmer for about 6 hours, or until they start to look brown/black. Stir every half hour or so to keep the onions from burning onto the bottom of the pot.
Dump all contents from the "love sauce" into your tomato puree base. Use as much of the oil as you can, it has a lot of flavor...it's kind of a crap shoot though depending on how much you used to simmer the onions. Use too much and your sauce will be really sloppy.
Remove the bay leaves from the sauce.
Add a pinch more salt, pepper, and oregano.
Add around double the amount of salt/pepper you just put in, but of sugar instead. Mix.
Let it sit in the cold for a few hours. Also, if you want, add some diced tomatoes.
Always stir it before putting serving since the onions and spices tend to drift to the bottom if it sits for a really long time.