Place in a large pot on the stove top. Add all the vegetables and bullion cubes. Cover with 6 cups water and simmer until vegetables are tender, about 20-25 minutes. Once veggies are tender, remove half of the vegetables and transfer to a blender and puree until smooth. You could also use an immersion blender. Pureeing half of the vegetables, allows for a creamier soup.
In a small saucepan, over low heat, add 1 1/2 cup milk and 3 tablespoons flour and whisk until all lumps are gone. Once smooth, add mixture into vegetables, stirring until well blended.
Next add 1 pound diced Velveeta cheese, and shredded cheddar cheese stir until melted and well combined.
Remove from heat, salt and pepper to taste. Enjoy!