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HEAT oil in large nonstick skillet on medium-high heat. Add chicken and garlic; stir-fry 4 min. or until chicken is evenly browned.
ADD pepper strips and snow peas; stir-fry 2 to 3 min. or until peppers are crisp-tender and chicken is done. Add water chestnuts, dressing and crushed pepper; stir-fry 2 min. or until heated through.
SERVE over rice.