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1
Pop popcorn in a large pot, an air popper, a popcorn popper, or a microwave as desired. Separate popcorn into two even batches, placing them in large bowls. You should have about five cups for each batch.
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2
Adjust oven rack to middle position and preheat oven to 225u00b0F.
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3
Add butter, brown sugar, corn syrup and salt to a medium saucepan set to medium-high heat. Whisk to incorporate and bring to a boil. Let bubble untouched for three minutes until gooey and caramel-scented. Remove from heat and add baking soda, whisking to combine.
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4
Pour caramel onto one batch of popcorn, stirring with a spoon until surfaces and crevices are covered. Line two baking sheets with parchment paper. Spread caramel corn on baking sheets in a single layer, splitting evenly between the two trays. Bake for 30 minutes, stirring every 10 minutes. Remove from oven allow to cool completely, until caramel has a glossy, hardened, candy-like appearance.
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5
Meanwhile, combine melted butter, 1 tablespoon cheese powder and Tabasco in a small bowl. Pour mixture over second batch of popcorn. Toss to combine and season with salt, as needed. Sprinkle with remaining cheese powder and stir thoroughly to combine.
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6
Mix caramel and cheese corn together and serve.
