Add the pasta and cooked until just tender. Drain.
While the pasta is draining, return the pot to the stovetop over low heat. Add the milk, Velveeta, cheddar, Monterey Jack, cayenne and black pepper.
Stir until the cheeses are melted and the mixture is smooth.
Add the pasta back to the pot along with the roasted red pepper.
To serve, spoon pasta mixture onto plates or into bowls. Sprinkle with bread crumbs, cheese and parsley.
Notes
To warm up refrigerated leftovers, just put in a saucepan over medium heat. Add a good splash or two of milk. Once the cheese heats up and starts to soften, stir gently until heated.