Divide Rice Chex® Cereal (10 cup) into two large bowls. Set aside.
In a medium-sized bowl, heat the Semi-Sweet Chocolate Chips (1/2 cup), Creamy Peanut Butter (1/4 cup), and Butter (1 tablespoon) in the Panasonic Microwave Oven in 15-second increments. Stir after each time. Continue until smooth.
Pour the chocolate & peanut butter mixture over one of the bowls of cereal. Stir well until cereal is well coated.
Put the Powdered Confectioners Sugar (1 cup) in a large zip lock bag or paper bag. Pour the chocolate coated cereal in the bag. Shake and turn the bag until the cereal is well covered in sugar.
Pour the mixture onto parchment or wax paper in an even layer to cool.
In the empty chocolate bowl, stir together the remaining Semi-Sweet Chocolate Chips (1 cup), Butter (3 tablespoon) and the Red Hots® Cinnamon Candy (3/4 cup). Microwave in 30-second increments, stirring after each time until the candies start to get gooey and soft. Add the Water (1/4 cup), stir and cook until smooth.
Working quickly, pour the cinnamon & chocolate mixture over the other bowl of cereal. Stir to coat well, and pour onto paper until cool.
When the cereal has cooled completely, combine in a large airtight container with the Honey Roasted Peanuts (1 1/2 cup) and red and black M&M's® Milk Chocolate Candy (1 cup). Toss to combine, serve, and enjoy! Cooking results may vary depending on microwave oven used.