1 (12 oz.) pkg. chocolate chips
1 (12 oz.) pkg. butterscotch chips
1 (18 oz.) jar creamy peanut butter
1 c. butter
2/3 c. milk
1 (3 1/2 oz.) pkg. non-instant vanilla pudding
2 lbs. powdered sugar
1 lb. dry roasted peanuts (1/2 lb. unsalted works best)

Melt chips and peanut butter. Spread 1/2 of mixture on ungreased 15 x 10 pan; chill. Take butter, milk, and pudding; slowly melt. Bring to a boil for one minute.

Remove from heat and add powdered sugar gradually; stir until creamy. Spread mixture over first layer and chill. Add peanuts to remaining chip mixture. Pour over second layer; chill.