GREASE 15 x 10-inch jelly-roll baking pan.
HEAT 2 cups peanut butter, corn syrup and brown sugar in large saucepan over medium heat until mixture is nearly smooth; remove from heat. Stir in cereal until coated. Quickly press cereal mixture onto bottom of prepared pan; set aside.
COMBINE butter, milk and pudding mix in large bowl until well combined. Gradually stir in powdered sugar until smooth. Spread pudding mixture evenly over cereal mixture.
HEAT morsels and remaining peanut butter in medium saucepan over low heat until melted and almost smooth. Spread chocolate mixture over pudding mixture. Refrigerate for about 1 hour or until chocolate layer is set. Cover; refrigerate for an additional 4 hours or until firm. Cut into bars.
NOTE: May freeze for longer storage.