In a large saucepan, cook the bacon over moderately low heat until crisp, 10 minutes. Transfer the bacon to paper towels to drain. Pour off 2 tablespoons of the bacon fat and reserve. Add the onion and celery to the pan. Cook over low heat until softened, 12 minutes.
Meanwhile, in a food processor, puree 1 cup of the corn with 1 cup of the milk. Add the corn puree to the saucepan along with the remaining 2 cups each of corn and milk and the potatoes. Simmer over low heat until the potatoes are tender, about 20 minutes. Stir in the cream, chives and the reserved bacon. Season with salt, pepper and Tabasco.