HEAT oven to 350°F.

COOK pasta as directed on package. Meanwhile, brown sausage in large deep skillet on medium-high heat, stirring occasionally to break up sausage. Drain; return sausage to skillet. Stir in zucchini, peppers and pizza sauce; cook 5 to 6 min. or until vegetables are crisp-tender, stirring occasionally.

DRAIN pasta. Add to sausage mixture with Velveeta; mix lightly. Spoon into 13x9-inch baking dish sprayed with cooking spray; top with Parmesan.

BAKE 15 to 20 min. or until heated through.