HEAT oil in large nonstick skillet on medium-high heat. Add chicken; cook 5 to 7 min. or until chicken is cooked through, stirring occasionally.
STIR in broth and water. Bring to boil. Stir in macaroni; cover. Reduce heat to medium-low. Simmer 8 to 10 min. or until macaroni is tender.
ADD Velveeta and broccoli. Cook 5 min. or until Velveeta is completely melted and broccoli is heated through, stirring frequently.
serving size = 1-1/2 cups