Line a 13 x 9 x 2-inch pan with foil and coat with nonstick cooking spray. Sprinkle 2 cups of peanuts in the pan. In a saucepan, combine the milk, marshmallows, peanut butter chips, butter, and peanut butter. Cook and stir until smooth. Pour over peanuts; spread evenly. Sprinkle with remaining peanuts; press down. Cover and refrigerate for at least 45 minutes. Lift foil out of pan; cut into squares. Store in airtight container in refrigerator.
Yield: about 4 dozen