Skillet Creamy Macaroni and Cheese

I love my Abuela's recipe for macaroni and cheese and haven't really had a desire to try another one, but I came across this one and thought I'd give it a shot.  You can make the entire thing in one skillet and it's quite creamy.  Just be careful not to over do it on the cheese!  (I used too much because I didn't measure.)  You can also add ham and peas or any other variety of foods to dress this up.

Skillet Creamy Macaroni and Cheese

3 1/2 cups water, plus extra if needed
1 (12-ounce) can evaporated milk
12 ounces (about 3 cups) elbow macaroni
1/2 teaspoon salt
1 teaspoon cornstarch
1/2 teaspoon dry mustard
1/4 teaspoon hot sauce (I omitted - didn't have any.)
6 ounces cheddar cheese, shredded (1 1/2 cups)
6 ounces Monterey Jack cheese, shredded (1 1/2 cups)
2 tablespoons butter, cut into small chunks
Ground black pepper to taste 

Bring 3 1/2 cups water, 1 cup of the evaporated milk, the macaroni, and 1/2 teaspoon salt to a simmer in a 12-inch nonstick skillet over high heat. Cook at a vigorous simmer, stirring often, until the macaroni is tender and the liquid has thickened, 9 to 12 minutes.

Whisk the remaining 1/2 cup evaporated milk, the cornstarch, mustard and hot sauce together in a small bowl, then stir into the skillet. Continue to simmer slightly thickened, about 1 minute.

Off the heat, stir in the cheddar and Monterey Jack, one handful at a time, adding water as needed to adjust the consistency of the sauce (May not need any additional water.) Stir in the butter and season with salt and pepper to taste. Serve immediately.