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Ingredients:
16 ounces elbow macaroni (about 3 cups)
3 tablespoons butter or margarine
1 ½ cups milk, divided
2 large eggs, lightly beaten
1 lb (16-ounces) cubed (1/2 inch size) Velveeta cheese
8 ounce shredded Kraft Mild Cheddar Cheese (about 2 cups), divided
8 ounce shredded Kraft Monterrey Jack Cheese
1 teaspoon salt
1 teaspoon freshly ground black pepper

Directions:

Heat oven to 375 degrees F.
Cook macaroni in a large pot of salted boiling water until tender but not mushy, about 8-10 minutes. Drain well and pour into a large mixing bowl.
Melt on low the Velvetta Cheese and ¾ cup milk until melted (stir often)
Pour Melted Cheese Sauce over Pasta and Stir. Add in butter, ¾ cups milk, eggs, 1 cup shredded cheeses, salt and pepper. Mix well and transfer to a 2 quart baking dish. Pour the remaining cheese on top.
Bake until top crust is golden brown and casserole is bubbling, about 25 minutes. Serve hot . 

Source : food,com