Cook pasta in large saucepan as directed on package, adding peas to the boiling water for the last 3 min.
Meanwhile, beat cream cheese, dressing and flour in medium saucepan with whisk until well blended. Gradually add milk, stirring constantly until mixture is well blended.
Add ham; cook on medium-low heat 5 min. or until heated through, stirring occasionally.
Drain pasta mixture; return to pan.
Add sauce; mix lightly. Cook 2 to 3 min. or until heated through, stirring occasionally. Top with parsley and Parmesan.