Mix together ¾ cup flour with 1 teaspoon salt and ½ teaspoon pepper. Toss the 2 # beef chunks in the flour until it is completely coated. Set aside.
In a dutch oven, cast iron pot, or sturdy pot with a tight fitting lid, warm 2 tablespoon olive oil over medium heat. Brown all the beef, working in batches to not over crowd the pot. Set the browned pieces on a plate to the side.
In the now empty pot, saute the 1 chopped yellow onion and 4 chopped garlic cloves for 1-2 minutes, stirring constantly so they don't burn.
Deglaze the pot with 3 cups of red wine (don't use the whole bottle yet, you will need the remaining red wine to thicken the stew at the end), scraping up all the browned bits at the bottom of the pot.
Stir in the 2 tablespoon worcestershire sauce, 1 tablespoon beef base, 1 tablespoon + 1 teaspoon sugar, 1 teaspoon salt, ½ teaspoon black pepper, 1 bay leaf, and the browned beef with juices. Let that simmer together for 5 minutes.
Add the 2 cups beef broth, 2 ½ cups carrots, 1 ½ cups celery, 3 cups potatoes. Bring the pot to a boil, then lower the heat to low and pop the lid on. Cook for 2 hours, stirring occasionally.
Thicken the Stew
At the end of 2 hours the broth will still be pretty thin. Mix together a cornstarch slurry by stirring the remaining red wine and 3 tablespoon of cornstarch together.
(note if you didn't save the wine, just use ¼ cup water)
Stir it into the stew and bring it to a simmer over medium heat until it is thickened, about 4-5 minutes.
Let the stew cool and then serve! It goes great with warm crusty bread.
INSTANT POT INSTRUCTIONS
Start with your pot on normal saute mode, add 2 tablespoon of olive oil. Brown the floured beef in batches, setting the browned pieces on a plate. Set aside.
Add 1 tablespoon olive oil and stir in the chopped onion and 4 chopped garlic cloves. Saute for 1-2 minutes, stirring so they don't burn.
DEGLAZE THE POT COMPLETELY!!! Pour 3 cups of red wine into the pot and scrape up ALL the browned bits from the bottom.
Do not skip this step. It will prevent you from getting a burn warning when you cook the stew.
Stir in the 2 tablespoon worcestershire sauce, 1 tablespoon beef base, 1 tablespoon + 1 teaspoon sugar, 1 teaspoon salt, ½ teaspoon black
pepper, 1 bay leaf, and the browned beef with juices. Let that simmer together for 5 minutes.
Turn the saute mode off. Add the 2 cups beef broth, 2 ½ cups carrots, 1 ½ cups celery, and 3 cups potatoes.
Pop the lid on the pot and lock the pressure valve to seal. Set to cook for 25 minutes on meat/stew mode (high pressure).
Do a 5 minute natural release, then quick release the remaining pressure.
Turn the pot on to normal saute mode.
Mix a slurry with the remaining wine (about ¼ cup) and 3 tablespoon cornstarch.
Pour into the stew and allow it to simmer and thicken for about 4-5 minutes.
Turn off saute mode, cool the stew for about 10 minutes, and serve!