Blood meal is very high in nitrogen. It has its uses, but is generally not necessary for chilis. Instead I use fish emulsion for nitrogen. I use blood meal for broccoli, corn, leafy vegetables and even onion and garlic to get some good big leaves to maximize bulb size. Too much nitrogen with cause you to have a lot of pretty leaves and not a lot of fruit. Also, too much nitrogen attracts a lot of the bad bugs.
Bone meal is high in phosphorus which is good for root growth and flower production. I will put some in the planting hole for tomatoes, peppers, and bulbs. It takes a while to break down and putting it in the hole gives it time to bread down for when the plants need it.
Hope that helps!
jacob