MELT butter in large skillet on medium heat. Add chicken; cook 6 to 7 min. on each side or until done (165ºF). Transfer to plate; cover to keep warm.
MIX cream cheese spread, 2 Tbsp. milk and dry seasonings until blended. Mix 1/4 cup with remaining milk in small microwaveable bowl; set aside. Add vegetables to same skillet; cook 5 min. or until crisp-tender, stirring frequently. Stir in remaining cream cheese mixture; cook and stir 2 min. Add orzo; cook and stir 2 min. or until heated through.
SPOON orzo mixture onto 4 plates; top with chicken. Microwave reserved cream cheese mixture on HIGH 15 to 20 sec. or until heated through; stir. Spoon over chicken; top with basil.