Scatter the bacon in a single layer on a 13-by-18-inch rimmed baking sheet and roast until crisp, 18 to 22 minutes. Remove about 1/3 cup of the bacon and reserve for garnish.
Combine the eggs and milk in a blender and process until smooth. Add the flour and 1/2 teaspoon salt and blend until smooth, then pour into the pan with the crisp bacon and stir to distribute evenly. Top with the canned chiles, Cheddar and Monterey Jack. Bake until puffed and golden, about 25 minutes.
Meanwhile, heat a medium skillet over medium-high heat and add the olive oil. Saute the corn until starting to turn golden and charred, 3 to 5 minutes. Stir in the beans and chili powder and season with salt and pepper.
Top the Dutch baby with the corn and black beans, tomatoes, scallions, cilantro, reserved bacon and Cotija. Serve with lime wedges and hot sauce.