Preheat the oven to 350˚F (180˚C). Grease a bundt pan with nonstick spray.
2. Step
Invert a 3-inch (8-cm) diameter bowl in the center of two tortillas. Use a knife to cut around the bowl and discard the centers.
3. Step
Invert a 2-inch (5-cm) diameter bowl in the center of two tortillas. Use a knife to cut around the bowl and discard the centers.
4. Step
Invert a 1½-inch (4-cm) diameter bowl in the center of one tortilla. Use a knife to cut around the bowl and discard the center.
5. Step
Heat the oil in a medium skillet over medium-high heat. Add the bell peppers and sauté until softened, about 5 minutes. Add the onion and toss to combine.
6. Step
Add the chili powder, cumin, garlic powder, and salt. Toss to combine.
7. Step
Add the chicken and cook until the onions are translucent and the chicken is warmed through.
8. Step
Place one of the tortillas with the 3-inch (8-cm) hole on the bottom of the greased bundt pan. Arrange a layer of cheddar cheese slices around the tortilla.
9. Step
Stack the second tortilla with a 3-inch (8-cm) hole over the cheese layer. Top the tortilla with half of the fajita mixture.
10. Step
Layer one of the tortillas with a 2-inch (5-cm) hole on top of the fajita layer. Top with a layer of Pepper Jack cheese.
11. Step
Layer the second tortilla with a 2-inch (5-cm) hole on top of the Pepper Jack layer. Add the remaining fajita mixture.
12. Step
Layer the tortilla with a 1½-inch (4-cm) hole and top with the remaining cheddar and Pepper Jack.
13. Step
Layer the last tortilla on top of the last cheese layer.
14. Step
Cover the top of the bundt pan with a 12-inch (30 ½-cm) round cake pan or aluminum foil and bake for 45 minutes.
15. Step
Let cool for at least 30 minutes.
16. Step
Invert the bundt pan onto a cutting board.
17. Step
Slice the Chicken Fajita Party Ring and top with sour cream. Serve with guacamole.
