In 10-inch nonstick skillet, cook sausage, bell pepper and green onions over medium-high heat 6 to 8 minutes, stirring occasionally and breaking up sausage with spoon, until sausage is thoroughly cooked. Drain on paper towels.
Return sausage mixture to skillet; stir in cooking sauce. Heat to boiling, stirring occasionally. Reduce heat to low; simmer uncovered 5 minutes, stirring occasionally. Remove from heat; stir in cheese until melted. Sprinkle with cilantro. Serve warm with tortilla chips.