Add pasta to a large pot of boiling water, stir after water boils, cook for 2-3 minutes or until desired tenderness. Do not overcook. Drain and set aside.
Melt 2 tbsp. butter in large skillet over med/high heat.
Add sliced bell peppers and cook until tender – about 4-5 minutes.
Melt remaining butter and milk; stir in sauce packet. Bring to a boil. Reduce heat and simmer, stirring often, for about 5 minutes or until slightly thickened.