Bring a large pot of water to a boil and cook the noodles according to package directions, removing them from the water 1 minute before the package states for al dente.
Preheat the oven to 350 degrees and butter a 2.5 quart baking dish.
In a large sauce pan, melt the butter over medium heat. Add the jalapeno and cook for one minute. Whisk in the flour and cook for 1-2 minutes or until flour has browned a bit.
Pour in the milk, cream, and salt and continue cooking, whisking constantly, for 3 minutes.
Slowly add the cheese a handful at a time, stirring to melt completely before each new addition.
When cheese is completely melted, add the bacon and drained macaroni to the cheese sauce and stir to coat completely.
Pour the macaroni and cheese into the prepared baking dish and top with the crushed Cheetos.
Bake for 25 minutes.