Preheat smoker to 275°F.
Season chicken and place in smoker for 2 1/2 - 3 hours or until the internal temperature reaches 165°F.
Combine cream cheese, 1 1/2 cups cheddar cheese, ranch, and Frank's Red Hot. Whisk until smooth.
Cook bacon and add into dip mixture.
Shred chicken in food processor and add into dip. Top with the remaining cheddar cheese. Drizzle Frank's Red Hot on top.
Smoke at 275°F for 30-45 minutes.