Cut habanero and serrano peppers in half; discard stems and seeds. In a bowl, combine arbol chiles and enough boiling water to cover. Let stand, covered, 10 minutes; drain., Meanwhile, in a well-ventilated area, fill a 6-qt. stockpot three-quarters with water; bring to a boil. Add carrots, onion and garlic. Return to a boil; cook until soft, 20-22 minutes. Remove with a slotted spoon to a bowl. Add peppers to stockpot; return to a boil. Boil 1 minute; drain. Place water, vinegar, lime juice, salt and pepper in a blender. Add vegetables; cover and process until smooth. Return to stockpot; bring to a boil., Carefully ladle mixture into 5 hot half-pint jars, leaving 1/2-in. headspace. Remove air bubbles and adjust headspace, if necessary, by adding hot mixture. Wipe rims. Center lids on jars; screw on bands until fingertip tight. , Place jars into canner with simmering water, ensuring that they are completely covered with water. Bring to a boil; process for 10 minutes. Remove jars and cool.