Heat a skillet over high heat. Add the canola oil and chorizo and start to brown, about 2 minutes. Then add about half the jalapeno and cook until the chorizo is golden brown and cooked through, stirring occasionally. Set aside.
Heat the butter in a small nonstick pan over medium heat. Whisk the eggs in a bowl and sprinkle with salt and pepper. Pour the egg mixture into the pan. Cook the eggs by whisking constantly and shaking the pan vigorously until the eggs begin to set but are still quite loose. Spoon the chorizo mixture down the center, top with the remaining jalapeno slices and the cheese, and continue cooking until almost completely set, 1 to 1 1/2 minutes, depending on desired consistency. Fold the omelet into thirds, and turn it out onto a cutting board or a plate.
Over a burner on medium heat, soften the tortilla, 8 to 10 seconds on each side, or in a skillet over medium heat for 1 to 2 minutes per side. Gently place the omelet onto the tortilla and wrap around it tightly. Slice in half on a diagonal.