Lay the crescent dough sheet flat on a parchment lined baking sheet. Break the American cheese slices into 25 small pieces. Place the cheese pieces onto the dough in 5 rows and 5 columns. Place one lil smokie on top of each piece of cheese.
Cut the dough into 25 squares so each smokie has its own piece. Roll each square of dough around the smokie and cheese, wrapping it so the top and bottom of the smokie are still exposed.
Place 16 pigs in a blanket vertically around the perimeter of a 12-inch cast iron skillet, leaving a little space between each one. Bake for 7 minutes.
Remove the skillet from the oven and pour the chili into the center. Spread it out evenly. Pour the nacho cheese sauce over the chili, then sprinkle the shredded colby jack cheese on top. Add the sliced jalapeños over the cheese.
Arrange the remaining 9 pigs in a blanket horizontally on top of the cheese layer around the outer edge of the skillet.
Bake for an additional 20 to 25 minutes, or until the pigs in a blanket are golden brown and puffy and the cheese is melted and bubbling.
Remove from the oven and sprinkle with sliced green onions. Serve immediately and enjoy!
