Drain asparagus, reserving liquid. Melt butter; blend in flour, salt, and pepper. Add evaporated milk to asparagus liquid (enough to make 1 1/2 cups). Stir into flour mixture. Blend until smooth. Cook 2 minutes.
Spread asparagus in bottom of greased, shallow 1 1/2 quart casserole. Reserve a few asparagus spears for top. Sprinkle half of cracker crumbs over asparagus. Add eggs and half of sauce. Sprinkle with remaining crumbs. Arrange rest of asparagus spears over top. Pour over remaining sauce. Sprinkle with shredded or grated cheese. Bake at 350 for about 30 minutes or until casserole is bubbly.