COOK pasta as directed on package. Meanwhile, heat oil in large nonstick skillet on medium heat. Add chicken; cook and stir 7 min. or until cooked through.

STIR in milk and cream cheese spread; cook 3 min. or until cream cheese spread is completely melted and mixture is well blended. Add peppers, Parmesan cheese and pesto; stir. Cook 3 min. or until heated through, stirring occasionally.

DRAIN pasta. Add to cream cheese mixture; toss to coat.