Make the chips: Heat 2 inches peanut oil to 360 degrees F in a high-sided skillet. Fry the tortillas in batches until golden brown and crisp, 3 to 4 minutes. Drain on paper towels and season immediately with cumin and salt.
Make the guacamole: Combine the avocados, red onion, jalapeno, lime juice and cilantro in a bowl and gently mix to a chunky consistency. Season with salt and pepper. Serve immediately with the cumin tortilla chips.
Photograph by Kat Teutsch
Recipe courtesy Bobby Flay for Food Network Magazine