Preheat the oven to 325° F. Prepare a 9x13-inch baking dish with non-stick cooking spray; set aside.
In a large skillet, heat the oil and add the onions and red pepper; sauté until they begin to soften about 5 minutes.
Add ground beef to the veggies and cook over medium-high heat, crumbling with the back of a spatula, until the meat is no longer pink. Drain excess fat.
Add ½ cup water and seasonings to the beef mixture and bring to a boil. Reduce and simmer for 5 minutes.
In a medium bowl add the baking mix and ⅔ cup water to form a soft dough. Press the dough into the bottom and up the sides (½ inch) of the 9x13 baking dish. TIP: Grease your fingers with butter or spray with cooking spray before you press the dough (it is sticky).
In a small bowl add the mayonnaise, sour cream, and half of the cheeses. Mix and set aside.
Prepare the casserole:
Over the biscuit dough layer, spread the ground beef mixture and then top with layered sliced tomatoes. Evenly sprinkle the green chilies over the tomatoes. Next, spread the sour cream mixture over the green chilies. Top with remaining shredded cheese.
Bake for 30 to 35 minutes. The edges of the crust will be slightly brown and the meat mixture will be heated through with melty cheese on top. Delicious!
Sprinkle lightly with fresh chopped cilantro. Serve and enjoy!