Meanwhile, cook chicken in dressing in large skillet on medium heat 5 min. or until evenly browned, stirring frequently. Add carrots; cook and stir 3 min. or until crisp-tender. Stir in cream cheese product and broth; cook 3 min. or until cream cheese is completely melted and sauce is well blended, stirring constantly. Add sugar snap peas and frozen peas; stir. Mix corn starch and water. Add to skillet; mix well. Bring to boil; simmer on medium-low heat 5 min. or until sauce is thickened, stirring constantly.