Preheat your oven to 400 degrees F and line a large baking sheet with foil. Spray with a non-stick spray and set aside.
In a large saucepan, melt 1/4 cup of butter over medium heat. Stir in the hot sauce and then add the chicken breast. Toss to coat and then remove from heat. Set aside.
In another large saucepan, melt the remaining 3 tablespoons of butter over medium-low heat. Whisk in the flour and cook for 2-3 minutes or until golden. Slowly whisk in the milk and continue to whisk until no clumps remain and the sauce has thickened, about 3-4 minutes. Turn the heat to low, and stir in 1/2 cup of the blue cheese crumbles and Monterey Jack cheese, continuing to stir until the cheese has melted. It is ok if a few blue cheese crumbles remain in tact. Remove from heat.
Add half of the blue corn tortilla chips to the baking sheet and then top with half of the cheese sauce, half of the chicken and 2 tablespoons of the remaining blue cheese crumbles. Repeat this step once more, ending with the remaining 2 tablespoons of blue cheese crumbles.
Place in the oven and bake until cheese is melty, about 8 minutes. Remove from heat and sprinkle with green onions.