While your air fryer preheats, combine the cream cheese, shredded Monterrey Jack cheese, garlic powder, and smoked paprika in a bowl, mixing until fully incorporated and smooth. Fold in the cooked crumbled bacon, diced jalapeños, and sliced green onions until evenly distributed throughout. The cream cheese should be at room temperature so it blends easily without lumps—I find this makes the filling much easier to work with and ensures every wonton gets consistent flavor throughout.

Heat your air fryer to 350°F and lightly grease the basket with cooking spray. In a small bowl, whisk together the egg and water to create an egg wash—this will help seal the wontons and give them a slight golden finish. Have your wonton wrappers ready nearby so you can work efficiently without the filling drying out.

Place a wonton wrapper on your work surface in a diamond orientation. Spoon approximately 2 teaspoons of the filling mixture from Step 1 into the center of each wrapper. Using your finger or a small brush, lightly brush the edges of the wrapper with the egg wash from Step 2, then fold the wrapper in half to create a triangle, pressing firmly to seal the edges. I like to press the edges with the tines of a fork to ensure they're really sealed—this prevents the filling from leaking out during cooking.

Arrange the sealed wontons in a single layer in the preheated air fryer basket, being careful not to overcrowd—they should have a little space between them for air circulation. Lightly spray the tops of the wontons with cooking spray to encourage browning and crisping. Air fry at 350°F for 5 minutes until the wrappers begin to turn golden and crispy on the first side.

Carefully flip each wonton over using tongs or a small spatula, then lightly spray the second side with cooking spray. Air fry for another 5 minutes at 350°F until both sides are golden brown and crispy. Transfer to a serving plate and serve immediately while still warm and crispy, with ranch dressing on the side for dipping.