like canning? seems like a canning process would make it shelf stable

I can a lot and I would never can a meat product without a pressure canner.

http://www.amazon.com/Presto-01781-23-Quart-Pressure-Canner/dp/B0000BYCFU


Is a good one and not too expensive and works also as a pressure cooker with can be great for quickly cooking beans or meat.

Tanya - why the pressure cooker? Is it to achieve higher temps to kill bacteria?

I can't speak to Bacon Jam, but commercially prepared bacon that's been cured with Sodium Nitrite, and then fully cooked, is NOT considered to be a Potentially Hazardous Food. It's water activity is below the level to result in the growth of pathogens.

Now, adding other components may change that.

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Tanya - why the pressure cooker? Is it to achieve higher temps to kill bacteria?

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Meat is a low acid food. Water bath canning will not get it to the temperature to kill any nasty icks.
I don't eat bacon and the only time I ever made bacon jam, I kept it in a jar in the fridge to put on toast for my son.

I simply don't think it is worth the potential of getting many people sick, if this is handed out as gifts, because one doesn't want to spend the 90 dollars on a pressure canner/cooker.