Drain pasta, return to pot. Immediately add butter, onion, green pepper, and hot pepper by folding them in. Allow the veggies to sweat a bit.
Add cheese folding until melted, saving at least 4 oz. for later.
Add evaporated milk, stirring after the first can and every half can thereafter until macaroni is totally submerged by at least half an inch.
Taste then add salt and black pepper to liking. Optional: extra hot pepper.
In a 13x9 inch butter greased pan, pour mixture out evenly (you may want to have a small casserole dish handy in case there is extra.). Sprinkle with remaining cheese.
Bake for 45 minutes or until slightly firm in the centre, and golden brown on top.
Let cool for at least 10 minutes before cutting and serving.
Enjoy! Tastes great hot, warm, room temperature even cold. NB* Tip for steps 3 and 4 you need to work fast, if cheese is not melting you may need to turn stove to lowest setting and keep stirring gently until completely melted. You can halve the recipe for a smaller amount of people.