Cook the spaghetti noodles according to the package directions, then drain and set aside. In a large skillet over medium-high heat, add the ground beef, diced onions, and bell peppers. Cook until the beef is no longer pink, then drain off any excess grease. Stir in the taco seasoning until the meat is well coated.
Add the diced tomatoes with green chilies, chicken broth, and cubed Velveeta cheese to the skillet. Reduce the heat to low and stir occasionally until the cheese has completely melted into a smooth, creamy sauce.
Gently toss the cooked noodles in the cheesy mixture until everything is coated and combined. Serve warm and enjoy!
