Combine meat, chips, 1/3 of picante sauce, onions, egg, garlic,1 tsp cumin, & salt. Mix well. Shape into 1 inch meatballs & brown 1/2 in oil in 12 inch skillet til done (6-8 minutes) then finish other 1/2 of meatballs. Drain skillet.
Add remaining ingredients to skillet bring to boil stirring up bits from bottom. Return meatballs to skillet. Reduce heat cover & simmer 10 minutes. Serve with additional picante sauce.