in a large glass bowl place the chocolate chips, peanut butter and butter
put the bowl in the microwave and heat at 30 second increments stirring every 30 seconds until everything is melted together
once everything is melted, stir until really well combined
add in the vanilla and salt until combined
dump the cereal into the melted chocolate mix and stir carefully until all of the cereal is well coated
into a large zip top bag, dump the powdered sugar (if using gallon size bags, you may need to split this into two batches)
add in the coated cereal and shake until all the pieces are well coated and the entire mix is white and covered
spread out on a parchment lined baking sheet and let set until cool (can refrigerate if need be to hurry up the process)
enjoy!
Notes
make sure that everything is well combined before adding the cerealbe sure to coat the chocolate covered cereal really well with the powdered sugar. add more as needed to the zip top bag to ensure good coverage!