Preheat oven to 450 degrees. Place a wire rack on top of a large baking sheet and lightly spray rack with cooking spray.
Using a pastry brush, lightly brush barbecue sauce on both sides of bacon.
For each tater tot, place a jalapeno slice flat against the side of the tater tot, and wrap bacon all the way around tater tot so that it completely covers the jalapeno. Place on wire rack.
Bake in oven for 25 minutes or until bacon is brown and crispy.
Meanwhile, mix together ranch mix, buttermilk, and mayonnaise in a small bowl.