Melt butter in a large pot on medium-high heat, and add flour. Cook for one to two minutes.
Slowly whisk in milk, and add mustard, nutmeg, and Tabasco. Bring to a simmer, allowing mixture to thicken.
Remove from heat, and add Cheddar. Stir to combine, tasting for seasoning, and adding salt as needed.
Pour in macaroni, and stir to combine.
Line a baking pan with parchment/wax paper and grease. Pour macaroni Mixture, and spread into an even layer. Place in fridge and allow to completely cool.
Unmold, and remove parchment paper. Cut into cubes, and place on a baking tray. Freeze for one-and-half hours.
Roll frozen macaroni and cheese in seasoned flour, followed by egg wash, and lastly panko.
Deep fry in small batches in a pot filled with three inches of oil at 350 degrees Fahrenheit for four to five minutes until the Panko crust has taken on a golden brown colour.