Cooling/Resting Time: 0 minutes
Cook bacon and crumble, then set aside with 2-3 Tbsp Rotel for topping.
Add butter, cornstarch, milk, cheddar, pepper jack, remaining Rotel, and most of the bacon to a medium saucepan.
Heat over medium-low, whisking continuously until cheese melts and mixture is smooth, about 4-5 minutes.
Top with reserved bacon and Rotel.
Serve hot with tortilla chips.
Reheat in microwave in 30-second intervals if dip thickens.