COMBINE seasoning mix and water in medium bowl. Add chicken; toss to evenly coat. Refrigerate 30 min.
COOK garlic and cilantro in large nonstick saucepan sprayed with cooking spray on medium-high heat 1 min. Stir in chicken mixture, onions and peppers; cook 10 min. or until chicken is done, stirring frequently.
ADD cream cheese, VELVEETA and broth; mix well. Cook on medium heat until cream cheese and VELVEETA are completely melted and chicken mixture is heated through, stirring occasionally.