Step 1: For The Cupcakes or muffins: Preheat oven to 350 degrees.
Step 2: In a large mixing bowl, sift together the flour, sugar, brown sugar, salt and cinnamon. Stir to combine and set aside.
Step 3: In a another mixing bowl, mash bananas well. Add baking powder and mix well with the mashed bananas. Add milk, peanut butter, oil, and vanilla, and mix well. Add this to the dry mixture and mix just enough to combine. Stir in chocolate chips.
Step 4: Line 18 muffin tins and fill about 3/4 full.
Step 5: Bake for about 20 minutes or until a toothpick inserted into the center comes out clean.
Step 6: Serve warm or cool completealy before frosting.
Step 7: For The Frosting: In a large bowl, beat the confectioners' sugar, peanut butter and butter until fluffy. Beat in vanilla and enough milk to achieve desired consistency.
Step 8: Pipe or spread frosting over cupcakes. Sprinkle with peanuts.
Step 9: Store in the refrigerator.
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