Preheat oven to 350°F (177°C). Butter a 9X13 inch baking dish; set aside.
Breadcrumbs:
Place bread crumbs (2 cups), Parmesan cheese (1/4 cup), and dried thyme leaves (1/2 teaspoon) in a medium bowl. Melt 2 tablespoons butter. Pour the butter (1/2 cup) into the bowl with the bread mixture, and toss; set breadcrumbs aside.
Pasta:
In a large pot, cook the pasta (16 ounces) in well-salted water according to package instructions.
While the pasta cooks, make the sauce. Melt butter in a large saucepan. Whisk in the flour (1/2 cup), salt (1 1/2 teaspoon), pepper (1/2 teaspoon), and mustard powder (1 1/2 teaspoons), and cook for 2 minutes. Remove the pan from the heat and slowly whisk in milk (5 cups) and half and half (1 cup) until smooth. Stir in Tabasco (1/2 teaspoon). Place back on the heat and bring to a boil, stirring constantly. Turn the heat down to low and add the cheese (2 cups sharp cheddar + 2 cups pepper Jack + 1 cup mozzarella) and chiles (1 can), then stir until smooth.
When pasta is cooked, drain well and return to the pasta pot. Pour cheese sauce over pasta and toss to evenly coat. Pour into prepared baking dish and top with toasted breadcrumbs
Bake in preheated oven for 15 minutes to heat through and toast bread crumbs. Top with fresh parsley (2 tablespoons). Serve.