In a large pot or Dutch oven over medium heat, cook the diced bacon for 8 to 10 minutes, or until crispy. Using a slotted spoon, transfer the cooked bacon to a paper towel-lined plate. Reserve about 1 tablespoon of bacon grease in the pot and discard the rest.
Add the jalapeños and onion. Cook for 3 to 5 minutes, or until softened. Add garlic and cook for 1 minute, stirring frequently to prevent burning.
Stir in the flour and continue cooking, stirring constantly for 1 minute. Slowly drizzle in the chicken broth, whole milk, and heavy cream. Stir well until smooth and no flour lumps remain.
Add the potatoes. Cover the pot and reduce the heat to medium-low. Simmer for 20 to 22 minutes, or until the potatoes are fork-tender.
Add the creamed corn, sweet corn, salt, pepper, and crushed red pepper flakes. Stir to combine.
Carefully transfer half of the soup and the cream cheese to a blender and blend until smooth. (Be very cautious; hot liquids expand when blended.) Alternatively, use an immersion blender to partially puree the soup directly in the pot.
Return the blended mixture to the pot. Add the shredded cheddar cheese and half of the cooked bacon. Stir to combine and cook for 3 to 5 more minutes, or until the cheese is fully melted.
Serve hot, garnished with the remaining bacon and sliced jalapeno. Taste and adjust with additional kosher salt if needed.