Spray 12-inch nonstick skillet with nonstick cooking spray. Heat over medium-high heat until hot. Add bell pepper and onion; cook and stir 2 to 3 minutes or until crisp-tender.
Add gravy, broth, water, chili sauce and meatballs; mix well. Bring to a boil, stirring occasionally. Reduce heat to medium. Cover; cook 5 minutes or until meatballs are thawed.
Add uncooked noodles; mix well. Cover; cook about 10 minutes or until noodles are tender and meatballs are thoroughly heated, stirring occasionally. Remove from heat. Stir in sour cream until well blended. Sprinkle with parsley.