In a sauce pan combine olive oil and diced onion. Cook for 5 to 10 minutes on medium heat until the onion is translucent.
Add in evaporated milk followed by Monterey Jack cheese and white cheddar cheese. Stir constantly on medium heat until melted.
Add in diced green chilis and ½ can of Rotel. Mix.
Add in spices and stir until combined.
Take off the heat. Top with diced cilantro and serve warm with tortilla chips.
