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Prepare biscuits if not already made.
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Brown sausage in a large skillet, crumbling it as it cooks and draining any fat.
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Melt butter in a different large skillet and stir in flour.
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Cook flour, stirring, over low heat until it just starts to change color (it doesn't need to get dark/coffee brown).
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Whisk in milk, salt and pepper and continue stirring until mixture thickens to your liking.
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If you like the gravy thicker, stir a little flour into a small amount of milk until smooth, and whisk that into the gravy; if you like it thinner, just add more milk and stir until blended.
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Cook eggs singly in a small skillet either sunny-side-up or over-easy, whichever you prefer (this is best when the yolk is still a little runny).
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For each serving, split biscuit and place on plate. Top biscuit with crumbled sausage and cover with fried egg. Cover egg with milk gravy and sprinkle with cheddar cheese.
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If you like the cheese melty, nuke it (microwave) for 30-45 seconds on high.