Preheat the oven at 350°F (176°C).
Bring water (enough to cook the macaroni to a boil in a large pot over high heat. Pour the macaroni into the pot, lower the heat to medium and cook the macaroni until al dente (about 10 minutes).
Drain the water from the macaroni in a strainer and run the macaroni under cold water to stop the cooking process. Place the macaroni back into the pot and add 2½ cups of the cheddar cheese to the macaroni.
Beat the eggs in a large mixing bowl. Add the evaporated milk, yellow mustard, ketchup, salt, pepper, garlic powder, onion powder, cayenne pepper, and paprika to the eggs and whisk until smooth.
Pour the egg mixture into the pot with the macaroni and cheese and mix evenly.
Pour and evenly distribute the macaroni and cheese into a greased baking pan. Top the macaroni and cheese with the remaining cheese. Cover the baking pan with tin foil and place it in the middle rack of the oven.
Bake the macaroni pie at 350°F (176°C) for 20 minutes then remove the tin foil from the baking pan and continue to bake the macaroni for an additional 15 minutes. For a crispier crust, turn the oven to broil for the last 3 minutes of baking the macaroni pie.
Allow the macaroni pie to rest for at least 15 minutes before serving.