Heat a large skillet over medium heat. Add the bacon, cooking for 6-7 minutes or until browned, turning once. Remove to a paper towel lined plate and chop when cooled.
Drain the bacon fat, reserving 1 tablespoon in the skillet. Reheat (if you turned it off) to medium heat and add the corn, red onion, green chile and both bell peppers. Cook for 4 minutes until slightly soft, but still crisp.
Stir in the cream cheese, sour cream, sugar, salt and hot sauce, if desired. Stir until it has melted and smooth. Stir in the bacon and shredded cheeses.
Transfer to a serving dish, top with fresh lime, if desired, and serve with desired chips. Serve warm.
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