Heat oven to 350 degrees F.
Melt 3 Tbsp. butter in medium saucepan on medium heat. Whisk in flour; cook 2 min., stirring constantly. Gradually stir in milk. Bring to boil; cook and stir 3 to 5 min. or until thickened. Add VELVEETA; cook 3 min. or until melted, stirring frequently. Stir in macaroni.
Spoon into 2-qt. casserole sprayed with cooking spray; sprinkle with Cheddar. Melt remaining butter; toss with cracker crumbs. Sprinkle over casserole.
Bake 20 min. or until heated through.
Stir in 1/4 cup OSCAR MAYER Real Bacon Bits with the cooked macaroni.
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