You don't lose unspent red mana as steps and phases end.
Magecraft — Whenever you cast or copy an instant or sorcery spell, discard a card, then draw a card. If this is the second time this ability has resolved this turn, Ashling, Flame Dancer deals 2 damage to each opponent and each creature they control. If it's the third time, add RRRR.

NOTE: Stock image, not actual card.