Preheat oven to 350°. Beat cheese, flour, butter, salt, and ground red pepper at medium speed with an electric mixer 30 to 60 seconds or until mixture forms a ball. Gently stir in cereal. Shape into 1-inch balls, and place 1 inch apart on ungreased baking sheets. Flatten each dough ball with a fork dipped in flour. Bake, in batches, 25 to 28 minutes or until golden brown. Transfer wafers to wire racks, and cool completely.