Add the olive oil to a large pot (or dutch oven) over medium heat.
Add the diced onions, saute 5-6 minutes, add the garlic and saute an additional 1-2 minutes.
Add the ground beef, sprinkle with chili powder, black pepper and kosher salt, then cook through.
Drain any grease from the ground beef, then add the buffalo sauce and tomatoes to the pot.
Add the cream cheese & cheddar cheese.
Stir until the cheese is melted and begins to bubble.
Cover the pot and remove from the heat.
Add to the Wonderbag, cover and pull closed.
Slow cook in the Wonderbag for 2-3 hours.
Remove from the bag and serve with chips for dipping.
Traditional Slow Cooker Method: If you don't have a Wonderbag, you can prepare the dip as directed on the stove, then serve immediately or place in a traditional slow cooker on the warm setting for 2-3 hours.Vegetarian Option: Omit the ground beef. Substitute 1 lb. meatless crumbles or soy chorizo.