I got this recipe from Kitchen Simplicity and will probably make it frequently. It's better (in my opinion) to Velveeta or nacho cheese sauce. It's not as heavy, and it has the delicious creamy texture. It also take about 5 minutes to make! Perfect!
4 oz. pepper jack cheese, shredded
4 oz. cheddar cheese, shredded
1 tbsp cornstarch
1 (12 oz.) can evaporated milk, divided
2 tsp hot sauce
Pinch of salt
Toss together cheese and cornstarch, in a medium-sized saucepan, until evenly coated. Stir in 1 cup evaporated milk, the hot sauce and salt. Cook, stirring often, over medium-low heat until thickened, smooth and bubbly. Stir in additional evaporated milk, if needed, until desired consistency is reached.