MIX graham crumbs, margarine and 1/4 cup sugar; press onto bottom of 13x9-inch pan. Refrigerate while preparing filling.
BEAT Neufchatel cheese and 3/4 cup sugar in large bowl with mixer until well blended. Add preserves; mix well. Place strawberries and remaining 2 Tbsp. sugar in small bowl; mash with fork. Stir strawberry mixture and COOL WHIP into cheese mixture. Spoon over crust; cover.
REFRIGERATE 4 hours or until firm. Store in refrigerator.