Preheat oven to 350°F. Toss together Cheddar cheese, flour and pepper in a medium bowl; set aside.
Stir together milk, cream cheese, 1/3 cup green onions and hot sauce in a 9x13-inch baking dish. Add corn and shredded cheese mixture; stir well to blend evenly. Cover and bake 30 minutes.
Uncover and sprinkle with remaining 1/3 cup green onions and optional toppings, as desired. Bake 5 minutes longer.
TIPS: To soften cream cheese, microwave on HIGH 30 seconds.
Variations: Prepare recipe as directed, except: For Cheddar Corn & Ham Casserole, add 2 cups leftover chopped cooked ham with corn in Step 2. For Cheddar Corn & green Chilies Casserole, add 1 can (4 oz.) fire-roasted diced green chilies, drained, with corn in Step 2. For Cheddar Corn Casserole for 6, reduce all ingredients by half and bake in an 8x8-inch.