Cook bacon in a large saucepan over medium heat until crispy. Remove the bacon from the pan and let drain on a piece of paper towel. Set aside.

To the bacon drippings, add chicken, onion, red bell pepper, and garlic. Cook, stirring occasionally, for 5 minutes. Add diced green chiles and cook for an additional minute. Add chicken broth and potatoes. Bring to a boil, reduce heat, cover, and simmer for 20 minutes, or until the potatoes are tender. Add frozen whole-kernel corn and creamed corn, and stir well.

Pour flour into a medium bowl. Gradually whisk in skim milk. Add the milk mixture to the soup and cook over medium heat, stirring frequently, until the mixture thickens, about 15 minutes. Stir in grated sharp Cheddar cheese and cayenne pepper. Season with salt and pepper.

Ladle the soup into bowls and garnish with chopped scallions, grated Cheddar cheese, and crumbled bacon. If desired, break some tortilla chips over each portion of soup.