Cut bacon into ½ inch pieces. Cook bacon in a large Dutch oven pot over medium heat until crisp and golden brown. Remove bacon from the pot with a slotted spoon. Set aside.
Sprinkle flour into the pot with the bacon fat. Cook, stirring constantly for 2-3 minutes to cook off the raw flour taste.
Stir in the chicken broth, milk, heavy cream and Ranch seasoning.
Increase heat and bring soup to a simmer.
Reduce heat to low and cover pot with a lid. Simmer soup for 30 minutes, stirring frequently to prevent scorching.
Add corn and broccoli. Cook on low heat for another 5-10 minutes or until vegetables are tender.
Add shredded cheddar cheese, reserving some for garnish. Stir until cheese is completely melted into the soup.
Add reserved cooked bacon bits, reserving some for garnish. Stir to combine with the soup.
Season with salt and pepper to taste.
Cook for another 2-3 minutes to heat through.
To serve; top each bowl with some shredded cheddar cheese, bacon bits, and sliced green onions.