There is a lot of scope for flexibility in punctuation. If you are not satisfied that you have punctuated a sentence clearly, I recommend consulting a style guide. This is a comprehensive guide with lots of clear explanations and examples.
I think that the appropriate section concerns compound complex clauses:
When a dependent clause occurs between two independent clauses and applies only to the second, the dependent clause should be set off with commas.
I also recommend replacing the first for with because: it is already a potentially confusing sentence, and it doesn't help to have two fors in a row with different functions.
I’m in love with a lot of things, but if I had to pick one, it would be chicken because my love for it trumps all.
An alternative approach would be to replace the first comma with a colon: this rule covers using a colon in this way.
[Use a colon] between independent clauses when the second explains, [expands on] or illustrates the first
What's left after the colon is still a compound complex sentence, but the dependent clause has moved to the beginning of it, so this rule applies:
When a sentence begins with a dependent clause that applies to two independent clauses that follow, insert a comma after the dependent clause, but do not insert a comma between the independent clauses.
This is what it will look like:
I’m in love with a lot of things: if I had to pick one, it would be chicken because my love for it trumps all.