HEAT oven to 375ºF.
COOK pasta as directed on package, omitting salt. Meanwhile, cook and stir chicken in large nonstick skillet on medium-high heat 2 min. Add peppers; cook and stir 3 min. Stir in spaghetti sauce; simmer 6 to 8 min. or until chicken is done and peppers are crisp-tender, stirring occasionally. Add cream cheese; cook and stir 1 to 2 min. or until melted.
DRAIN pasta. Add to chicken mixture; toss to coat. Spoon half into 8- or 9-inch square baking dish; top with 1/2 cup mozzarella and 2 Tbsp. Parmesan. Repeat layers.
BAKE 20 min. or until heated through.