1. Combine the cereal and pretzels: Grab a large mixing bowl and toss together your Rice Chex and broken pretzel pieces. This is your crunchy base.
2. Melt the chocolate and peanut butter: In a microwave-safe bowl, combine the chocolate chips and peanut butter. Microwave in 30-second intervals, stirring after each, until smooth and creamy. (If you’re using a stovetop, melt everything over low heat while stirring constantly.)
3. Coat the cereal mixture: Pour the warm chocolate-peanut butter mixture over the cereal and pretzels. Stir gently but thoroughly to ensure every piece gets coated.
4. Chill briefly: Pop the bowl in the refrigerator for about 30 minutes, just until the mixture starts to set. This keeps everything from getting too sticky when you add the powdered sugar.
5. Powdered sugar time: In a separate large bowl, sprinkle ½ cup of powdered sugar on the bottom. Add half of your cereal mixture, top with another ½ cup of powdered sugar, and toss gently. Repeat with the remaining cereal and another ½ cup of powdered sugar. Keep tossing until everything is lightly coated.
6. Chill again: Return the coated mixture to the fridge for another 30-60 minutes. This step helps everything firm up and makes it easier to handle.
7. Add the mix-ins: Stir in the M&Ms and chopped mini peanut butter cups. Give it one final toss, and you’re done!

Pro tip: If you love a heavier powdered sugar coating, add a bit more (¼ cup at a time) until it’s just right.