Makes 10 cups, enough to fill 5 16-oz clip jars (pictured here)
10 cups corn Chex cereal
1 cup semisweet chocolate chips
¾ cup creamy peanut butter
¼ cup butter
1 ½ cups powdered sugar, divided in half
2 gallon-sized Ziploc bags
Very large (at least 4 quart) mixing bowl
Pour cereal into very large mixing bowl, and set aside.
In a medium saucepan over low heat, combine chocolate, peanut butter, and butter. Heat the mixture, stirring constantly with a heatproof spoon or spatula, until entirely melted and combined. (Alternatively, place chocolate, peanut butter, and butter in a large microwavable bowl, microwave for 1 minute on high, then stir the mixture with a heatproof spoon or spatula to combine).
Pour melted chocolate mixture over cereal in the large mixing bowl, and mix with a heatproof spoon or rubber spatula until all the cereal is coated with the chocolate mixture. Divide the cereal into two gallon-sized ziploc bags, and add half the powdered sugar to each. Seal the bags, and shake the mixtures until the powdered sugar evenly coats the cereal.
Open the bags and let the puppy chow cool completely, then transfer to gift jars. It will keep for up to a week in an airtight container at room temperature.