Preheat the oven to 350 degrees F. Butter a 13 by 9-inch baking dish.
Sprinkle 1/2 cup of the blue cheese into the baking dish. Melt the butter in a large skillet over medium-high heat. Add the green peppers and onion and saute until softened, about 5 minutes. Stir in the corn and jalapenos and cook for 1 minute more. Take the skillet off the heat and allow the mixture to cool.
In a large bowl, mix the cream and eggs. Crumble the biscuits and the remaining 1 1/2 cups blue cheese into the custard and stir to combine. Stir in the sauteed vegetables and the salt and pepper. Pour the mixture into the baking dish. Bake until golden and set in the middle, 50 to 60 minutes. Remove the dish from the oven and serve hot.