Cut out center of each bread slice, using a 3-inch round cutter; reserve cut-outs. Coat large nonstick skillet lightly with oil. Place bread slices and cut-outs in skillet.
Break and slip an egg into center of each bread slice. Turn on heat to medium-high. Cook until whites are completely set and yolks begin to thicken but are not hard, 3 to 4 minutes. Carefully flip bread with egg and cut-outs over with turner. Cook second side to desired doneness, 1 to 2 minutes.
Season eggs with salt and pepper. Top with cheese, salsa and chips. Serve immediately with cut-outs.