Heat the olive oil in a large skillet over medium-high heat, and stir in the ground beef until crumbly and no longer pink, about 5 minutes. Stir in the onion, garlic, Italian seasoning, cayenne pepper, and salt; continue cooking until the onion has softened and turned translucent, about 5 minutes more. Drain off the excess grease, and add the tomato paste and crushed tomatoes. Bring to a simmer, then reduce heat to medium-low, cover, and simmer 1 hour.
Preheat the oven's broiler and set the oven rack at about 6 inches from the heat source.
Bring a large pot of lightly salted water to a boil. Add pasta and cook for 8 to 10 minutes or until al dente; drain. Stir the cooked macaroni into the meat sauce until combined, then spread into a 9x13 inch baking dish. Sprinkle with Cheddar and Parmesan cheeses.
Broil in preheated oven until the cheese is bubbly and golden, about 5 minutes.
