Place the bacon in a large, deep skillet, and cook over medium-high heat, turning occasionally, until evenly browned, about 10 minutes. Drain the bacon slices on a paper towel-lined plate. Crumble the cooled bacon into a bowl and set aside.
Stir together the cream cheese and ranch dressing mix in a bowl until smooth. Spread the mixture on the bottom of a pie dish. Evenly spread the barbecue sauce on top of the cream cheese mixture. Layer the bacon, bell pepper, and tomato on top of the barbecue sauce and top with the Cheddar cheese. Cover and chill for 1 hour before serving.