MICROWAVE butter in medium microwaveable bowl on HIGH 30 sec. or until melted. Stir in peppers. Microwave 1 to 2 min. or until heated through.
STIR in corn. Microwave 3 to 4 min. or until heated through, stirring after 2 min.
ADD cream cheese spread; stir until melted. Stir in Parmesan.