Prepare pasta according to package directions. Keep warm.
Melt butter in a large saucepan or Dutch oven over medium-low heat; whisk in flour until smooth. Cook, whisking constantly, 2 minutes. Gradually whisk in milk, and cook, whisking constantly, 5 minutes or until thickened. Stir in salt, black and red pepper, and shredded cheese until melted.
Add cooked pasta, and serve immediately.
Note: For testing purposes only, we used Kraft Sharp Cheddar Cheese. To lighten, 2% reduced-fat milk and reduced-fat cheese may be substituted.