Preheat the oven to 350 degrees Fahrenheit and spray a 9x13 baking dish with pan spray.
Add 8 slices bacon, ½ pound breakfast sausage, 1 cup onion, ½ cup red bell pepper, ½ cup green bell pepper, 1 (14 ounce) can pinto beans, 1 cup cheddar cheese, and 1 cup Monterey jack cheese to a large bowl and stir to combine. Pour into the prepared baking dish.
In the same bowl, whisk together 15 large eggs, ⅓ cup milk, 1 teaspoon salt, and½ teaspoon ground black pepper. Pour the mixture into the baking dish. Scatter the 1 ½ cups frozen diced potatoes evenly over the top.
Bake for 35-45 minutes or until the edges are set and browning, but the center still has a little bit of a jiggle to it. Let the casserole sit for 5 minutes. Serve with salsa, sour cream, and jalapenos.