Step 1: Place the 9 cups of cereal in a large bowl.
Step 2: In a 1-quart microwavable bowl combine chocolate chips, peanut butter and butter; microwave on HIGH for 1 minute, remove and stir then return for about 30-35 seconds longer.
Step 3: Stir in vanilla until smooth and combined.
Step 4: Pour the mixture over the cereal and stir until completely coated.
Step 5: Pour into a 2-gallon resealable bag; add in confectioners sugar; seal bag and shake until evenly coated.
Step 6: Spread onto waxed paper to cool completely.
Step 7: Store in an airtight container in the refrigerator (this will not last long!).
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