In a 4-quart, heavy saucepan, melt butter. Mix in flour until mixture is smooth. Add milk in small amounts at a time; cook until sauce is thick. Add Tabasco sauce and Parmesan cheese. Remove from heat. Take out 1/2 cup sauce and add the two beaten egg yolks. Mix well and return to the remainder, stirring constantly. Add Colby and American cheeses. Remove from heat.
Toast six slices of bread on both sides. Slice each piece in half and place on a heat-resistant plate. Layer with chicken or turkey, ham of your choice, sauce, tomato, and 2 slices of bacon. Top with paprika. Bake at 400 degrees for 10 to 15 minutes.