In a medium bowl, thoroughly combine the softened cream cheese, shredded Cheddar cheese, and bacon bits. Fill each halved jalapeño with this cheesy mixture.
Prepare three separate bowls: pour milk into the first, place flour in the second, and fill the third with bread crumbs.
Dip each stuffed jalapeño into the milk, followed by the flour, ensuring an even coating. Place the coated jalapeños on a plate and allow them to dry for about 10 minutes.
Once dried, dip the jalapeños in milk again, then roll them in the bread crumbs. Allow them to dry on the plate for another 10 minutes. Repeat this process of dipping in milk and rolling in bread crumbs to ensure a thorough coating. Let them dry completely.
Heat oil in a medium skillet to a temperature of 365 degrees F (180 degrees C).
Fry the coated jalapeños in the hot oil in batches, if necessary, until they turn golden brown, which should take approximately 2 to 3 minutes. Remove them from the oil and drain on a paper towel.
Serve these crispy, golden jalapeños while hot and savor the delicious blend of flavors.