PREHEAT grill to medium-high heat. Pour 1/4 cup of the dressing over combined chicken and peppers in shallow dish or resealable plastic bag; seal bag. Refrigerate 10 min. to marinate. Remove chicken and peppers from marinade; discard marinade.
GRILL chicken and vegetables 12 to 15 min. or until chicken is cooked through (165°F) and peppers are crisp-tender, turning and brushing occasionally with the remaining 1/4 cup dressing.
SERVE over the hot rice.