Using a serrated knife, cut a deep well in the center of the bread loaf. Cut deep enough that you have a large bread "core" to cut and use for dipping, but make sure the bottom of the loaf is still intact, to use as a vessel to hold the dip. Cut the core into chunks. Set the bread bowl on a platter and arrange the bread chunks around it.
In a large skillet, brown the pork sausage over medium heat. Use a wooden spoon to break the sausage into small pieces while cooking. Once cooked, add the cream cheese to the skillet and move around the pan until fully melted.
Once the cream cheese has melted, stir in the sour cream, sharp cheddar, and green chiles in their juices. Allow the mixture to bubble and melt. Then stir until smooth.
Mix in 1/3 cup of chopped green onions. Pour the hot sausage cheese dip into the bread bowl, then sprinkle the remaining green onions over the top. Serve warm or at room temperature.