Take one large pot and fill it with water (1/4 from the top). Add 1 teaspoon salt and 4 tablespoons cooking oil to the water, and bring to a boil. Then add the whole bag of the elbow macaroni but only cook in the boiling water for no more than 10 minutes! (The consistency should only be half way cooked.) Drain the noodles and let the sit, but do NOT rinse!
Mix in large bowl, the can milk, whole milk, sugar, soup, butter, water, both the red & black pepper, and the eggs. (Beat the contents together well.).
Put in a 11 x 9 x 2 inch deep casserole dish or aluminum pan, in layers (In this order):
1. First the macaroni (One flat layer).
2. Then the SHREDDED sharp cheddar cheese.
3. More macaroni.
4. Then the sauce mixture.
5. Then the SLICED sharp cheddar cheese (Save one package for the top of the macaroni).
6. Then repeat steps 1 through 5, until all is in the casserole dish.
The last step would be a layer of the SLICED sharp cheddar cheese on top. Panko topping (Optional): Melt ¼ cup butter in pan, add 1 cup panko bread crumbs, add 1 tbsp paprika, mix well, and put over the top of cheese and noodles in casserole dish. (You can also grind up Goldfish crackers as your topping.).
Now place the dish in a 350° preheat oven.
Bake for 20 minutes (Covered), and 10 minutes (Uncovered).
Take out of the oven and let it set for 30 minutes (for best results), before serving.