Cook the penne pasta until al dente, in a large pot of salted boiling water according to the package directions. Drain water and set aside.
Meanwhile, add the ground beef and diced onion to a large, deep skillet OR large pot. Cook and crumble the ground beef, over medium-high heat, until no longer pink and the onion is soft; about 8 minutes. Add the minced garlic and cook until fragrant, about 30 seconds.
Stir in the undrained Rotel tomatoes, beef broth, heavy whipping cream, cream cheese, Worcestershire sauce, chili powder, paprika, ground cumin, salt and pepper.
Mix together the cornstarch and water until combined then pour into the sauce.
Bring the mixture to a simmer then reduce heat to medium-low. Continue to stir mixture until the cream cheese is melted and the sauce thickens; about 10 minutes or so. Now, stir in the shredded cheddar cheese until melted.
Add the cooked penne pasta to the skillet and toss until everything is fully coated in sauce. Serve warm with garnishes of fresh cilantro and slices of jalapeno, if desired. Enjoy!