What does it mean when a dream is so powerful that it pushes its way from the mire of the subconscious and into the light? I don't know. But I am struck with the sense that it must be more important and more powerful than the visions that come with sleep.
Obviously your submerged, evil-eyed Christ is not the traditional Christ (whether you believe or not), who mostly spoke simple words of love and peace; this is the laughing Christ in the Mustang II, the poor imitation of the real thing, though here manifested more consciously and thus less ambiguously.
You fear he will drag you under, back, perhaps, to that psychical comfort (and I am presuming here) that you once felt as an upstanding member of Jesus, Inc.
Has there been, of late, a strong societal or familial encouragement to rejoin the flock?
Maybe so. I think I've always been afraid of Christ. When I was four I had a dream in which God appeared to me as a young man with a black beard. He said, "You don't love me, you only fear me."