First, prep the cheeses. Cut the cream cheese into cubes to help it melt faster and more evenly and, then, shred the pepper jack and cheddar. Set aside.
Next, heat a large dutch skillet on medium heat and add the olive oil, ground beef, and chopped onions. Break apart the ground beef as it cooks.
Once the beef is browned and onions are cooked, drain the meat (if necessary). Then, add the garlic and seasonings. Stir until well incorporated. Then, add the Rotel. Stir and let cook for about 30 seconds. Once mixed well, reduce the heat to medium-low to low.
Next, add the milk, cream cheese, shredded cheeses, and sour cream to the skillet. Stir occasionally until the cheeses are melted.
To thicken the dip, make a slurry by adding a tablespoon of cornstarch and 2 tbsp of milk to a bowl.
Whisk until the ingredients are well incorporated. Pour a little of the slurry at time to get to your desired thickness (I use the whole slurry mix). Then, let it cook for about 3-5 minutes or until thickened.
Next, adjust the seasoning and add hot sauce and the chopped cilantro.
Serve the dip while warm with tortilla chips for dipping! Add pico, sour cream, and additional cilantro and enjoy!