BRING broccoli and broth to boil in medium saucepan on medium-high heat. Stir in rice; cover. Remove from heat. Let stand 5 min. Stir in VELVEETA. Let stand, covered, 5 min. Stir until VELVEETA is completely melted. Spoon into microwaveable bowl; cover with plastic wrap. Refrigerate up to 24 hours.
MEANWHILE, melt butter in small skillet on medium heat. Add cracker crumbs; cook 2 to 3 min. or until golden brown, stirring frequently. Cool completely. Stir in Parmesan; spoon into resealable plastic bag. Seal bag. Store at room temperature up to 24 hours.
COVER broccoli mixture with waxed paper. Microwave on HIGH 5 to 6 min. or until broccoli mixture is heated through; stir. Sprinkle with crumb mixture. Microwave, uncovered, 2 to 3 min. or until heated through.