Place a large skillet over medium-high heat and cook the ground breakfast sausage, breaking it into small crumbles, until fully browned and internal temperature reaches 160°F (71°C).
Transfer the cooked sausage to a colander to drain all excess rendered fat thoroughly.
In a large heavy-bottomed pot or a 4-quart slow cooker set to low heat, combine the cubed processed cheese and the cubed cream cheese.
Add the two cans of undrained diced tomatoes with green chilies, garlic powder, and onion powder to the cheese mixture.
Stir the mixture continuously if using a stovetop, or periodically if using a slow cooker, until the cheeses are completely melted and a smooth, homogenous consistency is achieved.
Incorporate the drained sausage crumbles into the cheese base and stir until evenly distributed.
Maintain the dip at a minimum holding temperature of 140°F (60°C) for service and pair with corn tortilla chips.