Coat chicken with barbecue sauce. Melt 1 Tbsp. margarine in 12-inch nonstick skillet over medium-high heat and cook chicken, stirring occasionally, 5 minutes or until chicken is thoroughly cooked. Remove chicken and set aside.
Melt remaining 1 Tbsp. margarine in same skillet and cook red peppers, stirring occasionally, 5 minutes or until tender. Remove peppers and set aside.
Add water, milk and corn to skillet and bring to a boil. Add Knorr® Pasta Sides™ - Cheesy Bacon Flavor Macaroni and return to a boil. Reduce heat to medium and cook uncovered, stirring occasionally, 10 minutes or until pasta is tender. Stir in chicken and peppers.