Bring large pot of salted water to a boil, add pasta and stir
Cover pot, turn off burner, and leave pot on burner while you prepare the rest of ingredients
Saute onion in butter and olive oil over medium heat until soft and golden
Add ham and stir fry until it begins to brown, then reduce heat to medium low
Add chicken to pan, then add soup, cream and Velveeta
Stir until cheese melts and sauce forms
Drain pasta and add it to skillet with meats and sauce, stirring to combine
Transfer mixture to deep greased baking dish, 8" x 8" or 2 quart
Top with cheddar and Parmesan and refrigerate until baking if desired
Bake at 350 degrees for 45-60 minutes until hot and bubbly