In a medium bowl, add grape jelly, chili sauce, and cayenne pepper. Use a whisk to break up the jelly and mix with the chili sauce. It's okay if the sauce isn't completely smooth; the jelly will melt in the crock pot. Taste test sauce and adjust cayenne pepper, if needed.
Add frozen meatballs to a crock pot. Pour grape jelly sauce on top and use a spatula toss and coat the meatballs.
Cover cock pot and cook on HIGH for 2 hours or LOW for 4 hours.
Serve grape jelly meatballs immediately.
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