Cook the chicken breasts in a medium skillet over medium high heat for 12 to 16 minutes, or until chicken is cooked though and juices run clear. Let cool slightly then slice into strips.
In a large bowl, toss together the chicken, chili powder, lettuce, salsa, dressing, Cheddar, Monterey Jack, olives and tortilla chips until evenly coated. Chill until ready to serve.
