Heat a stove top or outdoor grill over medium-high heat. Lightly grease with cooking spray. Grill the cut jalapeños until charred, about 2 minutes per side. Remove from heat and allow to cool. Give them a rough chop.
In a large bowl combine the cream cheese, mayo, cheddar, monterey jack, hot sauce, chopped grilled jalapeños and season with salt and pepper. Mix together until evenly combined.
Pour the dip into an 8 or 9-inch baking dish. Square or round will work. You can also use medium ramekins. Top with the panko bread crumbs and bake for about 20 to 25 minutes, until bubbly and golden brown on top. Serve with veggies, crackers or chips. Enjoy!