Step 1

Toss the cheese and cornstarch together in a saucepan.

Step 2

Add all other ingredients, cook over medium heat, whisking often until the cheese is melted and smooth.

Step 3

Adjust to your taste if required - with extra hot sauce and salt.

Step 4

While hot, it will have a sauce like consistency - perfect for pouring over nachos.

Step 5

As it cools, it will thicken and become a dip-like consistency. Whisk occasionally to mix in the skin that forms on the top.

Step 6

Stir in additional evaporated (or even normal) milk to achieve the desired consistency if you want to use it as a pourable sauce. Note that when you reheat it, it loosens up.