Combine evaporated milk with parmesan cheese, eggs, salt and pepper.
Pour mixture into an oiled tube pan and bake in preheated oven to 300ºF (150ºC) over hot boiling water until flan sets. Remove from oven, cool for 10 minutes and invert mold onto a serving dish.
Prepare sauce over hot water. Place cheese, tomato paste, chili paste and nutmeg on top of a double boiler and stir until cheese is melted and all ingredients are combined. Correct seasoning.
Serve sauce over flan and in a separate sauceboat.