01 - Heat a large skillet over medium heat. Add the chorizo sausage, breaking it up with a spoon, and cook until browned and cooked through, approximately 5 minutes.
02 - Add the diced onion, minced jalapeño, and red bell pepper to the skillet. Sauté until vegetables are soft, about 4 minutes.
03 - Stir in the chili powder, cumin, smoked paprika, and salt. Cook for 1 minute until fragrant, stirring constantly.
04 - Add the drained diced tomatoes with green chilies and black beans. Stir to combine and heat through for 2 minutes.
05 - Reduce heat to low. Add the processed cheese cubes, Monterey Jack cheese, and milk. Stir gently until all cheese is melted and the dip is smooth, about 5-7 minutes.
06 - Transfer to a serving bowl or slow cooker set to warm. Garnish with cilantro and green onions if desired. Serve immediately with tortilla chips.