Preheat oven to 425 F. Spray a baking sheet with cooking spray.
Heat olive oil in a small pan over medium-high heat. Add onion and saute until softened, about 3-4 minutes. Add peppers and saute an additional 3-4 minutes. Add the corn and spices and saute an additional minute.
Add the cream cheese and stir well. Add cheddar cheese and stir until melted.
Spoon 2 tablespoons of the mixture onto the center of a tortilla and roll the tortilla tightly around the mixture and put on the baking sheet, seam side down. Continue process with remaining tortillas.
Spray the taquitos lightly with cooking spray and bake until the tortillas are crisp and lightly browned, about 12 minutes.