Rather than running makepanda.bat, you need to run makepanda.py explicitly with the version of Python you would like to use. For example:
thirdparty\win-python3.5-x64\python.exe makepanda/makepanda.py --everything --msvc-version=14 --windows-sdk=10
Rather than running makepanda.bat, you need to run makepanda.py explicitly with the version of Python you would like to use. For example:
thirdparty\win-python3.5-x64\python.exe makepanda/makepanda.py --everything --msvc-version=14 --windows-sdk=10