Step 1: Put cheddar and Velveeta into a medium pan. Set the pan over another pot of simmering water, over medium heat, and heat until cheese mixture is nearly melted.
Step 2: Add cream and stir constantly with a wooden spoon until cheese mixture is hot and smooth, 3–5 minutes.
Step 3: Transfer melted cheese mixture to a serving dish and sprinkle onions, tomatoes, and jalapeños on top.
Step 4: Serve immediately with chips. If for a party, I usually serve it in a small crockpot so it stays warm and keeps the flies off!
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