Cook macaroni according to package directions, omitting salt; drain well. Combine cooked macaroni, eggs, milk, salt, and pepper in a large mixing bowl; stir well. Spoon half of macaroni mixture into a greased 2 1/2-quart shallow baking dish. Sprinkle with half of cheese. Repeat layers with remaining macaroni mixture and cheese, ending with cheese.
Bake at 300° for 30 minutes; increase temperature to 400°, and bake an additional 10 minutes or until lightly browned.