Heat oil in a cast iron skillet over medium heat. Add the onion and garlic and cook until just beginning to soften, about 3 minutes.
Add the peppers and tomatoes to the skillet, along with the chile powder, paprika, cumin, salt, cayenne pepper, and apple cider vinegar. Cook, stirring occasionally, until vegetables are very soft and mixture is almost sauce-like, about 5-7 minutes. Stir in the tortilla strips until just coated with the vegetable mixture.
Reduce heat to low and add the beaten eggs and cilantro to the pan. Continue to cook, stirring frequently until the eggs are creamy but starting to set, about 3-4 minutes. Stir in the cheese until it’s just melted, and serve immediately topped with more cilantro, diced avocado, and hot sauce.