Preheat oven to 350 degrees
Cook macroni as directed
Melt butter in 3 quart sauce pan over medium to low heat
Add velvetta and cream of Chicken to the butter and stir until smoothly combined
Once butter, velvetta and cream of chicken are combined add 1 cup of milk
Drain the macroni and return to the pot
Add sauce to the macroni
Pour into baking dish
Bake at 350 degrees for 30 to 45 minutes
When you remove the Mac & Cheese from the oven you can add shredded cheese on top and return to the oven until melted