Step 1: Bake the cake according to directions in a greased 13x9 pan. Cool completely
Step 2: For glaze, in a shallow bowl, mix 3-3/4 cups confectioners' sugar, 1/2 cup milk and 1 teaspoon vanilla until smooth. Place one can of peanuts in another shallow bowl.
Step 3: Cut cake into 20 bars. Coat the top and sides of each square with glaze, then roll in nuts. Place on wire racks over waxed paper; LET DRY COMPLETELY.
Step 4: Make a second batch of glaze with the remaining confectioners' sugar, milk and vanilla. Coat cake squares a second time, then roll in remaining nuts. Let dry completely.
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