Preheat oven to 350 degrees. Spray a 8x8 baking dish, similar sized rectangular dish or deep 9 inch pie plate with cooking spray. Set aside.
Melt 1 tablespoon butter in a medium skillet. Add corn. Fry until corn starts to pop (pop corn!) and is lightly browned. The natural sugars will melt resulting in a sticky texture.
Pour corn mixture into a medium mixing bowl. Add remaining tablespoon of butter to the same frying pan and melt.
Add onion through jalapeno. Saute until onions turn opaque and bell peppers are soft. Combine to mixing bowl with corn.
Add all remaining ingredients, including garlic, mayonnaise, monterey jack cheese, cayenne, white pepper, salt and half & half to the mixing bowl, mixing well. Spread into baking dish. Top with sharp cheddar cheese.
Bake for 10 minutes or until cheese topping is melted and bubbly. Any longer and the cheese and mayonnaise will start to separate.
Allow to sit for 5 minutes before serving with tortilla chips. Careful... dip will be piping hot! Enjoy!
If you've made this recipe, make sure to come back and let us know how it went!