Heat oil in deep fryer or heavy skillet to 375°F.
In a bowl combine cream cheese, Cheddar cheese and diced jalapeños.
Roll cheese and jalapeño mixture into balls that are approximately the size of golf balls.
Set up a dredging station with two bowls — milk and eggs in the first one and crushed Flamin’ Hot Cheetos in the second one.
One by one roll the cheese balls in Flamin' Hot Cheetos, submerge them in egg wash and then roll them again in Flamin' Hot Cheetos. Repeat a second time if necessary.
Fry Flamin' Hot Cheetos Breaded Jalapeño Popper Balls for 2 minutes.
Drain on paper towels and serve with ranch or your preferred dipping sauce.