Schlotzsky's wisconsin cheese soup

SCHLOTZSKY'S WISCONSIN CHEESE SOUP

1 medium onion
1 medium green pepper
1/2 lb bacon
1/4th cup flour
2 cups chicken broth
2 cups milk
1 teaspoon dry mustard
1 teaspoon Frank's Red Hot
coarse black pepper
1/2 of a large brick Velveeta cheese

Using scissors, cut semi frozen bacon into small pieces. Brown until crispy. Remove with a slotted spoon onto paper towel. Cook onion and green pepper in bacon grease until crispy tender. Add flour and cook for 1 minute. Slowly pour in chicken broth, milk and remaining ingredients. Simmer on low. Serve with crusty bread.