Soak cashews in water for 4+ hours. Drain and set aside.
Bring a pot of water to a boil and cook pasta according to package instructions.
While pasta is cooking, put a pan on the stove over medium low heat. Add 1/2 tbsp. olive oil to the pan. Once heated, add 1/2 of the onion and the garlic. Add salt and pepper, and cook until soft - about 10 minutes. Set aside.
Add remaining 1/2 tbsp. olive oil to the pan and add serrano and jalapeño peppers. Sauté for 5 minutes (or until peppers soften). Set aside.
Place pan back on the stove and add remaining uncooked onions. Cook on medium low for 5-10 minutes* Set aside.
Add cashews, cooked onion (excluding the 1/4 onion you just caramelized), garlic, jalapeños, serranos, 1/2 can green chilies, nutritional yeast, cayenne pepper, chili powder, cumin, vegetable broth and corn starch to a blender. Blend on high until sauce is creamy and smooth.
Drain pasta and set aside.
Add sauce back to the pasta pan and cook on low until it begins to thicken - about 5 minutes. Add salt and pepper to taste and remaining 1/2 can of green chilies. Add pasta back to the pan and stir to combine.
Serve immediately with cilantro, additional peppers and caramelized onions on top.
Enjoy!
Notes
*Since you aren't adding any oil, you will want to add water to the pan when the onions dry out - 1 tbsp. at a time until the onions are soft and brown.