Preheat oven to 425*F. Generously grease an 8-inch round baking pan or a 10-inch cast iron skillet (preferably cast iron).
In a medium bowl, add milk, buttermilk, egg and oil and whisk until well combined. Then add the sugar, baking powder, salt, cornmeal and flour. Mix just until the dry ingredients are moistened. Mix should look a little clumpy.
Using a flat spatula, fold in the corn, jalapeños, red bell peppers and cheese.
Pour mixture into pan, ensure to scrap the side of bowl. Bake 20 to 25 minutes or until golden brown and delicious. Use tooth pick method to ensure the center of the corn bread is cooked.
Using an electric mixer, place bacon crumbles, honey and butter in a medium bowl and whip until well combined. (tip: make this ahead of time)
Portioning, plating, and garnishing instructions: Place bacon butter in a side dish and serve alongside of corn bread. Smear over top of corn once removed from oven.