In a large mixing bowl, combine mayonnaise, buttermilk, ranch seasoning, sugar, black pepper, and hot sauce. Whisk until mixture is well combined and starts to thicken slightly.

In the work bowl of a food processor, place mayonnaise mixture and 2 ounces blue cheese crumbles. Pulse until blue cheese is well incorporated and mixture is smooth.

Return mixture to mixing bowl. Stir in fresh chives and remaining 6 ounces blue cheese crumbles to combine. Chill for 1 hour before serving.