In a small bowl, combine the first 6 ingredients. Refrigerate, covered, until serving. Place tortilla chips in a shallow bowl. Grill corn, covered, over medium heat until tender, turning occasionally, 15-20 minutes.
When cool enough to handle, spread corn with mayonnaise mixture; roll in chips. Grill corn, covered, until lightly browned, 1-2 minutes longer. Serve with lime wedges.
Test Kitchen Tips
This is messy (in the best way!) but can be made into a colorful, party-friendly dish with a few easy steps. Simply cut grilled corn off the cob, toss with the mayonnaise mixture, and serve in portion cups topped with crushed chips and lime wedges.
If you are sensitive to spice, omit the cayenne pepper or sub in sweet paprika.