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HEAT oil in large skillet on medium-high heat. Add peppers; cook and stir 3 min. or until crisp-tender. Remove peppers from skillet with slotted spoon; set aside.
ADD meat to skillet; cook and stir 5 min. or until no longer pink.
RETURN peppers to skillet. Stir in sherry. Bring to boil; simmer on medium-low heat 5 min. Stir in steak sauce; cook just until heated through, stirring occasionally. Spoon onto tortillas; roll up.