In a large bowl, combine ground beef, chopped onion, minced jalapeño, crushed corn chips, beaten egg, 1 cup shredded Mexican cheese, 1 tablespoon chopped cilantro, ground cumin, salt, black pepper, and garlic powder. Mix until just combined.
Form the mixture into about 15 evenly sized meatballs.
Heat 1 tablespoon olive oil in a 12-inch cast iron pan over medium-high heat.
Add the meatballs to the hot pan and brown on all sides, turning so they develop color (about 6–8 minutes).
Pour in the red enchilada sauce and chicken broth, then stir in the minced chipotle peppers. Bring to a simmer.
Simmer uncovered until meatballs are cooked through and sauce is slightly reduced, about 10–12 minutes.
Sprinkle the remaining 1 cup shredded Mexican cheese and 1 tablespoon chopped fresh cilantro over the meatballs, allow the cheese to melt, then serve.