Boil macaroni until tender, drain and set aside. Shred cheese and set aside.
In a large pan, melt butter over medium heat. Add flour and mix until light brown color (make a roux).
Add 1 cup milk and whisk until thick.
Add cheese one handful at a time. Mix until cheese is melted and smooth.
Add cooked macaroni to pan and mix until well coated. Add salt and pepper.
Transfer to a container and refrigerate for at least 1 hour, or until cold.
Line a baking sheet with wax or parchment paper.
Form cold macaroni and cheese into 1″ balls and place on prepared pan. Place in freezer for at least 1 hour (overnight works well).
Beat eggs and add 1/4 cup milk in a bowl to make an egg wash.
Dip balls into egg wash then roll into bread crumbs, coating completely.
Heat oil in deep fryer to 320 degrees, or fill skillet 1/2-3/4″ deep and heat over medium high to 320 degrees.
Fry 3-4 minutes, until golden, and drain. Serve immediately.