You can cook it the same way, yes -- it'll take about 20 minutes (much less than brown). Here's a helpful primer on the different ways to cook rice: http://www.food52.com/blog/4464_rice_the_final_frontier
And here are some recipes for your new red rice! http://www.food52.com/recipe/red%20rice
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And here are some recipes for your new red rice! http://www.food52.com/recipe/red%20rice