In a large skillet over medium heat, heat the olive oil. Add the onion and cook, stirring occasionally until caramelized, about 10 minutes. Add the red bell pepper and jalapeño. Cook until softened, about 3 minutes.
Add the ground beef, breaking apart with your spoon, and mix into the other ingredients. Add the taco seasoning and the lime juice. Mix thoroughly, cover, and refrigerate until ready to use.
On a cutting board, place the stack of tortillas. Cut off two round sides of the tortillas, leaving a 4-inch (10-cm) wide middle section. Cut the middle section in half vertically.
Generously spray a bundt pan with nonstick spray.
Place the middle strips of tortilla in the bundt pan in a fanning pattern. Each tortillas strip should slightly overlap the previous strip. Sprinkle half of the cheddar cheese on top of the tortillas.
Spread half of the ground beef mixture on top of the cheese.
Place a third of the round strips of tortilla on top of the ground beef mixture in a fanning pattern. Sprinkle half of the Monterey Jack on top of the tortillas. Sprinkle the tortilla chips on top of the cheese.
Place another third of the round strips of tortilla on top of the chips in a fanning pattern. Sprinkle the rest of the cheddar cheese on top of the tortillas. Spread the rest of the ground beef mixture on top of the cheese. Sprinkle the rest of the Monterey Jack on top of the ground beef mixture. Place the rest of the tortillas on top of the cheese in a fanning pattern.
Bake for 45 minutes until crispy and browned.
Let cool for 20 minutes.
Place a plate on top of the bundt pan, and invert the ring onto the plate.
Slice and serve with salsa.
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