Make the Croutons: Preheat the oven to 375℉ (190℃) and adjust the rack to center. Cut the bread into ½-inch cubes and spread them on a baking sheet. Drizzle with olive oil, then sprinkle with Italian seasoning. Using clean hands, gently squeeze the oil and seasoning into the bread cubes. Arrange them in a single layer and bake for 15–20 minutes, flipping halfway through, until they are golden and crisp. While the croutons cook, make the pasta.
Cook the pasta: Cook the pasta according to package directions, but just slightly under al dente, it should have a nice bite without tasting raw (it will cook more with the sauce in the oven.) Immediately drain, dry, and allow the pasta to cool slightly to prevent carry-over cooking. See note 7.
Make the cream sauce: In a large saucepan or Dutch oven, saute ¼ cup butter and ¼ flour over medium heat to make a pale roux. While whisking, cook for at least 1 minute to remove the raw flour taste, but don't allow it to brown. While whisking continuously, slowly add the milk and cook over medium until it bubbles and thickens. It should coat the back of a spoon without running.
Add cream cheese: Working quickly, cut the cream cheese into chunks, add to the sauce, and whisk until smooth.
Add cream and season: Add heavy cream and drop the temperature to medium-low. Whisk for 1-2 minutes or until the sauce coats the back of a spoon without dripping. (You don't want it too thick as it will thicken when cooked with the pasta.) Turn the heat down to low and whisk in the salt, white pepper, and nutmeg. Taste and adjust seasoning as needed. See note 2. Then, remove from the heat.
Put it together: Grate the cheese. In a 9x13 baking dish, using clean hands, mix the cooled pasta with 3 cups of shredded fontina cheese. See note 5. Carefully pour the cream sauce over the pasta. Using a wooden spoon, gently mix to ensure all the pasta is covered in the sauce.
Top and bake: Add the croutons to a zip lock bag and gently smash with a meat mallet or rolling pin. In an even layer, top the mac and cheese with 3 cups of cheese, then the smashed croutons. Finally, top with small pats of the remaining ¼ cup butter. Bake at 375℉ (190℃) for 25-30 minutes or until bubbly and golden. Cool for 10 minutes before serving.