Heat a large non-stick skillet over medium-high heat for 3 minutes. Add sausage; cook sausage 1 to 2 minutes per side or until lightly browned.
Add bell pepper; cook and stir 3 to 4 minutes or until pepper is tender. Stir in Velveeta cheese and milk. Cook and stir until cheese is melted. Stir in broccoli; heat through. Serve over rice or noodles, if desired.