Combine 1 1/2 cups picante sauce and next 5 ingredients in a Dutch oven; cook over medium-low heat, stirring often, 25 minutes or until most of liquid evaporates. Spoon 1/3 cup mixture below center of each tortilla; top with 2 tablespoons cheese.
Fold in 2 sides of tortillas to enclose filling. Fold over top and bottom edges of tortillas, making rectangles. Secure with wooden picks. Place, folded side down, on greased baking sheets. Coat chimichangas with cooking spray.
Bake at 425° for 8 minutes; turn and bake 5 more minutes. Remove picks; top with remaining picante sauce and desired toppings.
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