Bring a large pot of salted water to a boil. Cook the penne pasta according to package directions until al dente. Drain and set aside.

While the pasta cooks, place a large skillet over medium-high heat. Add the ground beef, turkey sausage, diced onion, and bell peppers. Cook, breaking up the meat with a spoon, until the meat is browned and the vegetables are softened. Drain any excess grease from the skillet.

Sprinkle the onion powder and garlic powder over the meat mixture. Stir to combine.

Pour in the undrained Rotel tomatoes and the milk. Add the cubed Velveeta cheese. Stir well, then cover the skillet. Reduce heat to medium-low and cook for several minutes, stirring occasionally, until the cheese is completely melted and the sauce is smooth.

Add the cooked and drained pasta to the skillet. Gently toss everything together until the pasta is evenly coated in the creamy sauce.

Serve immediately while hot.