In a bowl, season chicken tenders with salt and pepper to taste. In a pan over medium heat, heat olive oil. Add chicken tenders and cook for about 2 to 3 minutes on each side or until lightly browned and juices run clear. Remove from pan and allow to cool to touch. Sliced thinly and set aside.
In a large pot over medium heat, bring about 4 quarts water to a boil. Add pasta and cook for about 7 to 8 minutes or until firm to bite. Remove from pot and drain well.
In a large saucepan over medium heat, add bacon and cook, stirring regularly, until crisp. With a slotted spoon, remove from pan and reserve drippings.
Add flour to drippings and cook, stirring regularly, for about 1 minute or until bubbly. Gradually add milk, stirring regularly. Bring to a boil, whisking constantly, for about 3 to 5 minutes or until thickened.
Add Parmesan cheese and 1 cup cheddar cheese and continue to cook, whisking constantly, for about 2 to 3 minutes or until melted. Add cayenne pepper and nutmeg. Season with salt and pepper to taste.
In a bowl, combine pasta, caramelized onions, chicken and 2/3 of the bacon. Add cheese sauce and toss gently to combine.
Lightly grease a casserole with cooking spray. Spoon pasta mixture into casserole. Top with the remaining 1/3 of the bacon, the remaining 1 cup cheddar cheese and the monterey jack cheese. Bake in a 350 F oven for about 15 to 20 minutes or until heated through and cheese is melted. Serve hot.