Velveeta Cheesy Chili Dip1 Servings. Ingredients1 pound Velveeta cheese cut up1 15 oz. can chiliDirectionsMicrowave in 2-quart microwavable bowl on HIGH for 5 minutes or until Velveeta is melted, stirring after 3 minutes.Serve hot with tortilla chips, French bread chunks, or corn bread sticks.Category: Appetizers and Snacks