Combine first 3 ingredients in a large bowl; stir well. Combine taco sauce and next 4 ingredients in a small bowl; add to cereal mixture, and toss gently to coat. Add cheese; toss well.
Spread mixture evenly into a 15 x 10 x 1-inch jelly-roll pan. Bake at 250 degrees for 50 minutes or until crisp, stirring occasionally. Let cool completely; store in an airtight container. Yield: 6 cups (serving size: 1 cup).
Per serving: 494 Calories; 9g Fat (15% calories from fat); 12g Protein; 95g Carbohydrate; 2mg Cholesterol; 1716mg Sodium