The cycle-averaged ac Stark effect associated with the A (2)Sigma(+) nu', = 2 <-- X-2 Pi (1/2)nu' = 0 two-photon absorption of NO at intensities between 7.7 and 15.2 TWcm(-2) has been characterized in real time through a synergic combination of bichromatic laser experiments and quantum-dynamics calculations. Measurements of the fluorescence emitted by the Rydberg A (2)Sigma(+) nu' = 2 level as a function of time between Stark and probe components of a bichromatic field exhibit a characteristic evolution in temporal peak structure with Stark-field intensity, which is interpreted in terms of a time-dependent Floquet analysis of the laser-matter interaction. The experimental observations are consistent with a dynamic Stark shift of Deltaepsilon(s)(omega(1) , omega(2)) less than or equal to0.23 eV of the optical transition at these intensities.