Add the noodles to a large oven safe dish, like a Dutch oven. Pour in the milk, stir, then spread out the pasta in an even layer- pressing it down so it's submerged in the milk.
4 cups elbow pasta, 4 cups milk
Add the block of velveeta to the center of the dish. Add the cubed butter and cream cheese, spreading them evenly out among the pasta.
16 oz velveeta cheese, 1 stick butter, 8 oz cream cheese
Sprinkle the seasonings and one cup of the cheddar cheese evenly out over the dish.
1 tsp onion powder, 1 tsp garlic powder, 1 tbsp Dijon mustard, 1 tsp pepper, 1 tsp salt, 1/8 tsp smoked paprika, 1/8 tsp cayenne pepper
Bake at 375° for 25 minutes.
Carefully remove the hot dish from the oven. Add the hot dogs to the dish, and extra milk if needed, stirring to evenly combine. Spread the mixture back out in an even layer, and bake another 20 minutes.
4-5 beef hot dogs
Carefully remove the hot dish from the oven, and sprinkle the remaining 1 1/2 cups of cheddar evenly out over top. Let the dish rest while the cheese melts.
Serve warm with sliced jalapenos & crisp crumbled bacon for garnish, if desired.