Coat a large nonstick skillet with cooking spray; place over medium heat until hot. Add veal chops; cook 2 to 3 minutes on each side or until browned. Remove chops from skillet. Drain and pat dry with paper towels. Set chops aside. Wipe drippings from skillet with a paper towel.
Coat skillet with cooking spray; place over medium-high heat until hot. Add mushrooms; saute until tender. Remove mushrooms from skillet; set aside.
Return chops to skillet; pour broth over chops. Bring to a boil; cover, reduce heat, and simmer 20 to 25 minutes or until chops are tender. Remove chops from skillet; set aside, and keep warm.
Add milk to liquid in skillet. Bring to a boil; cook, stirring constantly, 1 minute or until thickened. Stir in mushrooms, cheese, and thyme. Cook, stirring constantly, until cheese melts. Spoon sauce evenly over chops. Serve immediately.