Preheat oven to 350ºF. Lightly spray a 9×13-inch baking dish with cooking spray.
Brown ground beef in a large skillet. Drain fat. Add taco seasoning and water. Simmer for 5 minutes. Remove from heat. Stir in Rotel tomatoes, cream of chicken, cream of mushroom, enchilada sauce, hot sauce, and black eyed peas.
Spread ½ to ¾ cup of the meat mixture in the bottom of the baking dish. Top with 1/3 of the tortillas, 1/3 of the remaining meat mixture, and 1 cup of cheese. Repeat layers 2 more times.
Bake for 30 to 35 minutes, until bubbly.