Cook elbow macaroni following directions.
Melt butter in heavy-bottomed saucepan over medium heat. Add flour; cook 2 minutes, whisking. Whisk in 1 cup of the milk. Gradually whisk in remaining milk, 1 cup at a time, until smooth. Add salt. Simmer, whisking, 2 minutes, until thickened. Remove from heat. Stir in cheese, chiles and pepper sauce.
Drain pasta; return to pot. Stir in cheese sauce. Add ham.