Heat oven to 350°F. In ungreased 13x9-inch pan, break up cookie dough. With floured fingers, press dough evenly in bottom of pan to form crust. Bake 12 to 16 minutes or until light golden brown. Cool completely, about 30 minutes.
In medium bowl, beat 1/2 cup of the butter, the peanut butter, powdered sugar and milk until smooth. Stir in peanuts. Spread mixture over cooled crust.
In 1-quart saucepan, cook chocolate chips and remaining 1/4 cup butter over low heat, stirring frequently, until melted and smooth. Remove from heat. Cool 10 minutes.
Stir whipping cream into chocolate mixture until well blended. Spread over peanut butter mixture. Immediately sprinkle baking bits over chocolate. Refrigerate until chocolate is set, about 1 hour. For bars, cut into 6 rows by 6 rows. Store bars in refrigerator.