Preheat your oven to 350°F (175°C).
In a large mixing bowl, combine the 2 pounds of lean ground beef, 1/2 cup of whole milk, and the 2 large eggs. Stir until well blended.
Add in the packet of taco seasoning, finely chopped white onion, drained green chiles, crushed tortilla chips, minced garlic, and 1 cup of the grated cheddar jack cheese. Mix everything together until evenly combined.
Transfer the mixture to a loaf pan and shape it into a loaf, pressing it down gently to ensure it holds together.
Spread 1/2 cup of salsa evenly over the top of the meatloaf, allowing it to seep into the cracks as it cooks.
Place the loaf pan on a baking sheet (to catch any drippings) and bake in the preheated oven for about 1 hour or until the internal temperature reaches 160°F (70°C).
Remove the meatloaf from the oven, sprinkle the remaining 1/2 cup of cheddar jack cheese on top, and return it to the oven for an additional 10 minutes, or until the cheese is melted and bubbly.
Once done, remove the meatloaf from the oven and let it rest for 10 minutes. Slice, garnish with chopped cilantro, and serve with the remaining salsa on the side.