Preheat your oven to 400°F (200°C).
In a small cast iron skillet over medium-high heat, cook the chorizo sausage. Use the back of a wooden spoon to break up the meat into crumbles as it cooks.
Once fully cooked, drain the fat and transfer the cooked chorizo to a clean plate.
In the same skillet, add the diced yellow onion and green bell pepper. Cook over medium heat until the vegetables are softened, about 5-7 minutes.
Transfer the cooked onions and peppers to a plate. Use a paper towel to wipe out the skillet.
In a medium bowl, combine both cheeses. Mix well.
In the empty skillet, sprinkle 1 cup of the cheese blend evenly on the bottom.
Top with half of the cooked chorizo sausage.
Add another cup of the cheese over the sausage.
Sprinkle on half of the cooked onions and bell peppers.
Add the remaining chorizo sausage on top of the vegetables.
Sprinkle another cup of the cheese over the sausage.
Add the remaining onions and bell peppers.
Finish by covering everything with the remaining cup cheese.
Sprinkle the chili powder evenly over the top.
Bake for 10 to 12 minutes, or until the cheese is fully melted and bubbly.
For a golden, bubbly top, switch your oven to broil on high for the last 2-3 minutes of baking. Keep a close eye on it to avoid burning.
Once out of the oven, top the dip with tomatoes, cilantro, and jalapenos.
Serve warm with tortilla chips for dipping.