I made this recipe the other day… I have to admit, it’s pretty damn close to the original.
3/4 cup mayonnaise (the fatter, the better)
3/4 cup whole milk
1 (1 ounce) packet Hidden Valley Ranch dressing mix
1 (4 ounce) can green chilies
3/4 cup pickled jalapenos
2 tablespoons cilantro
1 teaspoon garlic powder
pinch kosher salt
juice of half a lime
Mix mayonnaise, milk and ranch powder. Chop chilies, jalapenos, and cilantro together. Mix in salt, garlic powder, and lime. Add chile mixture to ranch. Blend, boat motor, what have you. Refrigerate.
UPDATE: I modified the recipe above and omitted in the 3/4 cup pickled jalapenos and replaced them with 1 serrano pepper. It provides the dip with the same amount of heat without the “pickled” flavor.