HEAT oven to 350°F. Mix chicken, peppers, cream cheese and 1/4 cup salsa in saucepan; cook on low heat until cream cheese is melted, stirring occasionally.
SPOON 1/3 cup chicken mixture down center of each tortilla; roll up. Place, seam-sides down, in lightly greased 13x9-inch baking dish; set aside. Cook VELVEETA and milk in saucepan on low heat until VELVEETA is completely melted, stirring frequently. Pour over enchiladas; cover with foil.
BAKE 20 min. or until heated through. Top with remaining salsa.