Place cereal in 1-quart, zipper-type plastic bag. Drizzle oil over cereal. Add 1 tablespoon of the Parmesan cheese. Close bag and gently toss until evenly coated. Spread in shallow baking pan. Bake at 350° F for 5 minutes or until browned. Cool completely.
In medium saucepan combine broth, potatoes, corn, garlic and pepper. Bring to boiling. Reduce heat. Simmer, covered, for 5 to 7 minutes or until vegetables are tender. Do not drain.
Meanwhile, in small bowl whisk together milk, flour and remaining 3 tablespoons Parmesan cheese. Gradually stir into vegetable mixture. Cook and stir until boiling and slightly thickened. Stir in chives. Cook and stir for 1 minute more. Ladle into serving bowls. Sprinkle with cereal mixture.