Fry bacon until crisp. Remove to paper towel-lined plate. Sprinkle chicken with seasonings while the bacon crisps. Crumble bacon once cooked; set aside.
Add the chicken to the hot bacon fat in the skillet. Cook chicken, turning every few minutes, until juices run clear and no longer pink. Remove from skillet and keep warm.
Add chopped jalapenos to the skillet and cook for a couple of minutes. Add garlic and cook for 30 seconds to a minute more, until fragrant. Add chicken broth, deglazing pan. Bring to a boil. Add cream cheese and stir until melted and smooth. Add in shredded cheese and bacon, stirring until the cheese in melted.
Turn off heat and stir in cilantro. Serve chicken on a bed of Mexican rice and topped with sauce. Garnish with additional cilantro if desired.