Heat oven to 350°F. Place crushed nacho chips in shallow dish. Press both sides of each biscuit into crushed chips. Bake biscuits on ungreased cookie sheet 13 to 17 minutes or until golden brown. Remove from cookie sheet to cooling rack.
Meanwhile, finely chop enough banana pepper rings to equal 1/4 cup. In large bowl, mix ground beef, 1/4 cup of the nacho cheese sauce, 1/4 cup chopped banana peppers, chili powder, and cumin. Shape mixture into 8 patties, 3 1/2 inches in diameter.
In nonstick skillet, cook patties over medium-high heat 5 to 7 minutes, turning once, or until meat thermometer inserted in center of patties reads 160°F.
In small microwavable bowl, microwave remaining 1/2 cup nacho cheese sauce on High 30 to 45 seconds or until warm; stir. Split biscuits. Lightly spread cream cheese on cut sides of biscuit halves. Top bottom of each biscuit with burger, nacho cheese sauce, onion, tomato, bacon, avocado, remaining banana pepper rings and biscuit tops.