Bring a pot of salted water to a boil. Add pasta; cook until al dente. Drain and return to pot.
Add the butter and stir until melted.
Heat a small skillet over medium high heat. Add the chorizo and hot sausage to the skillet. Break up into small pieces and cook until brown.
Add the half and half, Velveeta, 1 cup of the sharp cheddar and 1/2 cup of the mild cheddar to the pasta. Stir together, then fold in the cooked sausage and jalepenos.
Spray a shallow serving dish (sized approximately 13 x 9) with nonstick cooking spray. Pour in the macaroni mixture and top with remaining cheese.