Cook pasta according to the package directions, adding broccoli florets to the pasta during the last 2 minutes of cooking; drain and set aside.
Meanwhile, heat olive oil in a large skillet over medium-high heat. Add chicken and season with salt and pepper.
Cook for 4-6 minutes, or until browned.
In a mixing bowl, whisk together the milk, chicken broth and flour. Add salt, pepper, and chili powder; whisk until well combined.
Stir the milk mixture into the pan with the chicken. Cook 2-3 minutes or until sauce is thickened.
Add pasta mixture and cheddar cheese; stir until cheese is melted and continue to cook for 2-3 minutes, or until heated through.
Remove from heat. Let stand 2-3 minutes.
Stir and serve.