Preheat oven to 425 degrees.Line a casserole dish with tater tots. Bake at 425 degrees for 15 minutes.While the tater tots are baking, cook bacon, blot fat away, and crumble into small pieces. Dice the peppers and slice the onions.In a medium bowl, combine cream cheese, sour cream, 1½ cups of Cheddar jack cheese, bacon (save a little bit for the topping), diced Jalapeno peppers, and most of the sliced onions (save a few for the top). Stir to thoroughly combine ingredients.Spread the jalapeno mixture over the top of the tater tots.Top with remaining ½ cup of cheese. Sprinkle the extra bacon pieces and onion slices over the top.Bake at 425 degrees for 20 minutes.