First of all, great list. Been wanting to see how straight-up izzet looks.
Second --
I'm going to agree with firemind in that you could diversify your removal and win conditions a little more, but strongly disagree with Jet being replaced. Still, you need to be able to take out midrange creatures when it's necessary.
Your choices for red-based spot removal, in (extremely rough) order, should probably be:
Magma Jet
V
V
V
V
V
V
Thunder Strike and Mizzium Mortars
(Shock, if RDW is to be a thing)
Turn // Burn -- very important for an instant speed "destroy target stormbreath"
Izzet Charm
But you should absolutely never replace jet, unless you think your meta is going to be smart enough to play around it. (IE, no red-based aggro whatsoever, everything is a midrange deck, only two toughness creature is voice. In this case, you should round out your sets of sweepers in Mizzium Mortars and Anger.
Third, Chandra is blank a little too often for my tastes here -- she'll hit lands and burn a lot, yes, but hitting a permission spell will feel awful. I kind of wonder how your list will look as an RUG control shell...
hm...
I'd totally want to try putting that spell pump Chimera in the sideboard for after my opponent takes out their removal and as something that would never get Slaughter Games'd. I have no idea if that would be good or not.
I can't tell you how much I like this idea. I don't even know if it'd be great -- I mean, it seems pretty good -- but I've been doing the same thing with Young Pyromancer in Grixis to great effect.
Go for it.