Pour the milk and heavy cream into a small saucepan.  Do not turn on the heat.  Sprinkle the gelatin over the top and let it sit for 5 minutes.  After 5 minutes, turn the heat to medium low and heat until just steaming, being careful not to let it get to a boil.  You want it hot enough to melt shredded cheese, but not boiling.

While the gelatin sits for 5 minutes, shred the cheddar cheese in a food processor.  Add the salt to the food processor.  Pour in the heated milk mixture and turn the food processor on.  Let it run for about 1 minute, until the cheese is completely melted and the mixture is smooth.  Transfer to a bread loaf pan that has been lined with plastic wrap and refrigerate.  If you are using in a casserole or dip, put it straight into your other recipe – no need to solidify it.  Otherwise, refrigerate for up to 1 week.