HEAT dressing in large stockpot on medium-high heat. Add onions; cook 5 to 7 min. or until crisp-tender, stirring frequently. Stir in chiles; cook 1 min.
ADD squash, carrots, red peppers, beans, tomatoes, tomato sauce and cinnamon stick; bring to boil. Simmer on medium-low 30 min. or until squash is tender.
DISCARD cinnamon stick. Serve chili over rice; top with cheese and cilantro.