In a heavy skillet on the stovetop, cook the sausage, drain, and set aside.
Cook the bacon and remove it from the pan, set on the cutting board.
Drain pan and wipe clean.
Add oil to pan and heat.
Cook peppers until soft, remove from pan, and drain if necessary.
In a large bowl, whisk the eggs.
Add milk, 1 1/2 cups cheddar and swiss cheeses and seasonings, whisk until well combined.
Stir in peppers, sausage, and bacon.
Pour into a prepared 9x13 baking dish.
Top evenly with tater tots.
Bake for 50-55 minutes or until bubbly and eggs are set.
Remove from the oven and add the additional 1/2 cup of cheese.
Return to baking for 3-4 minutes until cheese is melted.
Remove from oven to a wire rack and set for 5-10 minutes before serving.
This can be made ahead and prepared, cover it tightly with plastic, and store in the fridge overnight.To Bake - Remove from the fridge and set on counter 20-30 minutes, then cook as directed in the recipe.You can also cook the sausage, bacon, and peppers ahead of time to make assembly go faster.