candy bars (1.9 oz each), coarsely chopped1 In large bowl, measure cereal; set aside.
1-quart microwavable bowl, microwave chocolate chips, peanut butter and butter uncovered on High 1 minute; stir. Microwave about 30 seconds longer or until mixture can be stirred smooth. Pour mixture over cereal, stirring until evenly coated. Pour into 2-gallon resealable food-storage plastic bag.
powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool.
in peanuts and chopped candy. Store in airtight container.