COOK first 4 ingredients in large nonstick skillet on medium-high heat 8 to 10 min. or until meat is browned and mushrooms release their liquid, stirring frequently. Add peppers; cook 2 min. or until crisp-tender, stirring frequently.
STIR in sauce and water. Bring to boil; cover. Simmer on medium-low heat 5 min., stirring occasionally. Remove from heat. Reserve 4 cups sauce.
BREAK 3 lasagne noodles into 1- to 2-inch pieces; spread over remaining sauce in skillet. Top with 1/2 cup shredded cheese, 2 Tbsp. each Parmesan and basil; cover with 2 cups of the reserved sauce and remaining noodles. Repeat layers of cheeses, basil and sauce. Top with remaining shredded cheese; cover. Simmer on medium-low heat 20 min. or until noodles are tender. Remove from heat; uncover. Let stand 5 min. before cutting into wedges to serve.
serving size = 1 wedge (258 g)
