Set cooker to saute-high.
Add diced bacons to the cooker and saute for 5-8 minutes or until crispy. Remove the cooked bacon bites and set aside. Discard most of the bacon grease but leave at least 3 tbsp for cooking purposes.
Add the seasoned meat to the cooker. Mix and cook for 8-10 minutes or until all sides of the meat have browned.
Add chopped onions and cook for 1 minute.
Add pepper mixture, Mexican beer and mix.
Add fire roasted diced tomatoes with green chilies, bacon bites and bay leaves. Submerge the leaves into the liquid and do not stir the tomatoes. Watch video for reference.
Place the lid on. Pressure cook on high for 50 minutes with a natural release (approx. 45-50 min). Remove the lid.
Discard the bay leaves. Stir the chili and season with salt to taste.