Shuck the corn and rinse with cold water. Hold the corn upright with the tip of the ear on a shallow plate. With a sharp knife, cut the kernels off the ear. When finished, use the knife to scrape the ears to extract as much of the corn "milk" as possible. Do this for all the ears.
In a medium saucepan over medium heat, heat the butter until it bubbles, and add the onions, bell peppers, and celery. Cook until they soften.
Lower the heat. Add the corn and the corn milk, and all the other ingredients up to and including the cayenne. Cover and cook, stirring every few minutes, for 20-25 minutes. If the mixture becomes so dry that it's hard to stir, add a little half-and-half to loosen it up.
Adjust the seasonings with salt and Tabasco jalapeno sauce. Serve as a side dish with almost anything.