In the skillet, melt the butter and sauté the onions, bell peppers, and chile peppers until soft and glistening, about 5 minutes or so.
Scrape the kernels off the corn using a sharp knife or corn peeler/stripper, and rub the cobs with the backside of the knife or peeler to get the milky bits. Run half of the corn kernels through the food processor until smooth. In the mixing bowl, whisk the eggs with the low-fat lactose-free milk. Stir in the whole and processed corn kernels along with the sautéed onions and peppers.
In the medium bowl, whisk together the Masarepa, baking powder, sea salt, and black pepper. Stir into the liquid ingredients until well combined, then fold in 1 cup of the sharp cheddar cheese. Pour into the prepared casserole dish, spreading evenly, and then sprinkle the remaining cheddar cheese on top.
Bake in the preheated oven until the top is golden and the pudding is puffed, about 30 to 35 minutes. Remove from the oven and allow to rest for five minutes, and then serve.